The U.S. Department of Agriculture provides access to credit to approximately 115,000 producers who cannot obtain sufficient commercial credit through direct and guaranteed farm loans. As of Sept. 1, 2022, around 10% of those borrowers had been delinquent for 60 days or more.
USDA is taking action to provide relief to qualifying distressed borrowers whose operations are at financial risk. The Department announced Oct. 18 that distressed borrowers with qualifying USDA farm loans have already received nearly $800 million in assistance. The payments come as part of the $3.1 billion in…
