USDA to Begin Loan Payments to Socially Disadvantaged Borrowers
USDA to Begin Loan Payments to Socially Disadvantaged Borrowers Under American Rescue Plan Act
The American Rescue Plan Act of 2021 (ARPA) provides funding and authorization for USDA FSA to pay up to 120 percent of direct and guaranteed loan outstanding balances as of January 1, 2021, for socially disadvantaged farmers and ranchers as defined in Section 2501(a) of the Food, Agriculture Conservation, and Trade Act of 1990 (7 U.S.C. 2279(a)).
Section 2501(a) defines a socially disadvantaged farmer or rancher as a farmer or rancher who is a member of a socially disadvantaged group, which is further defined as a group whose members have been subjected to racial or ethnic prejudice because of their identity as members of a group without regard to their individual qualities.
For questions regarding the above information, please contact our Crop Insurance Education Program Manager: Chris Howard at: firstname.lastname@example.org or at 207.570.2868.
USDA and the University of Maine are equal opportunity employers and providers. This material is based upon work supported by USDA/NIFA under Award Number 2018-70027-28584.