The USDA is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. Additionally, agricultural producers not eligible for USDA Farm Service Agency loans may receive funding under USDA Business & Industry CARES Act Program.
The USDA also will host webinars to provide an overview of program requirements. For more information, please visit the USDA news release.
The USDA also announced details on the Coronavirus Food Assistance Program (CFAP), which will provide up to $16 billion in direct payments to deliver relief to America’s farmers and ranchers who have suffered a 5%-or-greater price decline due to COVID-19 and face additional significant marketing costs as a result of lower demand, surplus production, and disruptions to shipping patterns and the orderly marketing of commodities. More information is available in this news release.
USDA Rural Development Business and Industry (B&I) CARES Act Program Webinar
Wednesday - June 3rd - 2PM