Inflation Reduction Act Assistance for Distressed Borrowers
Since October 2022, USDA has provided approximately $1.5 billion in immediate assistance to more than 24,000 financially distressed direct and guaranteed FSA loan borrowers through the Inflation Reduction Act.
FSA is currently accepting individual requests for assistance from borrowers who took certain extraordinary measures to avoid delinquency on their direct FSA loans, missed a recent installment, or are unable to make their next scheduled installment.
For more information on eligibility, or to submit a request for assistance, producers can contact their local USDA Service Center or visit farmers.gov/inflation-reduction-investments/assistance.
Inflation Reduction Act Section 22007 – Discrimination Financial Assistance Program
The Discrimination Financial Assistance Program is a new program, authorized by Section 22007(e) of the Inflation Reduction Act, that will provide financial assistance to farmers, ranchers and forest landowners who experienced discrimination in USDA farm lending programs prior to 2021.
Details about the program, including an application and e-filing portal, are available at 22007apply.gov. Applicants can also call the free call center at 1-800-721-0970
Filing an application is FREE and does not require a lawyer. The application period is open and runs through January 13, 2024.
Reminder of Inflation Reduction Act Assistance for Qualifying Direct Farm Loan Programs Borrowers
FSA borrowers who have concerns about making their upcoming direct FSA loan installment payment or who have already missed a recent installment payment may be eligible for assistance with cash flow concerns. Borrowers can contact their local FSA office or the FSA Call Center at 877-508-8364 between 8 a.m. and 7 p.m. ET to inquire about eligibility.
Would you like FSA monthly FSA Maine News delivered to your email or local time sensitive Text Alerts instantly on your mobile device?
To subscribe, go to the GovDelivery Subscription Page.
Dates to Remember
|
Maine State Committee
Annie Allen, Chair
Ward McLaughlin, Member
Penelope Jordan, Member
Aaron Carroll, Member
William Bullard, Member
Latest FSA News for Maine
USDA Offers Farm Loans for Underserved and Beginning Farmers
2023 Farm Service Agency County Committee Elections Open This Week
Federal Emergency Management Agency Designates Franklin, Maine, as Primary Natural Disaster Area
USDA Extends Application Deadline for Discrimination Financial Assistance Program to January 13