The Farm Service Agency has issued its first notice of available funds to socially disadvantaged farmers through the American Rescue Plan Act.
Under the ARPA, FSA will pay 120 percent of its direct, guaranteed and farm storage facility loan balances to socially disadvantaged farmers that were outstanding as of January 1st.
Farm Service Agency Administrator Zach Ducheneaux tells Brownfield the program seeks to provide equity to minority farmers.
“Simply not having access to an FSA or FMHA loan a generation or generation and a half ago, is nearly a million-dollar negative impact on the outcome for a producer just in the lost opportunity of favorable treatment,” Ducheneaux said.
