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USDA Provides $208 Million for Emergency Assistance

The USDA is providing approximately $208 million in financial assistance for qualifying farm and emergency loan borrowers. To help prevent foreclosures, USDA will cover approximately $80 million in delinquencies for an estimated 210 borrowers whose loans were flagged for liquidation as of November 30.

USDA will also provide roughly $128 million for an estimated 1,120 borrowers with outstanding direct Emergency Loans as of November 30. Any distressed borrowers who qualify for this assistance and are currently in bankruptcy will get addressed using the same case-by-case review process announced in October 2022 for complex cases.

“We’re working hard every day to keep farmers on their farms,” says Ag Secretary Tom Vilsack. “We continue to work on credit reforms centered around a better approach, and I encourage our lenders and borrowers to capitalize on all available flexibilities.”

Borrowers can submit requests in person or by sending a request using portals found on farmers.gov.

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