Items Tagged with 'Farm Credit'

Advocates for minority farmers say historical discrimination justifies providing payments totaling 120% of debt held by “socially disadvantaged” farmers, as approved by the House Agriculture Committee in its $16.1 billion COVID relief package, part of a larger $1.9 trillion relief bill to be considered by the full House of Representatives.

The nation’s food and agriculture groups are glad to have a familiar face back at the helm of the Department of Agriculture.

Financial conditions in rural America have stabilized after being rocked by the coronavirus pandemic earlier this year, but some ag lenders say they’re concerned about the prospect of another wave of economic hardship if the virus were to intensify once again.

Farmworker bill on COVID-19 passes Assembly * California Dems join call for a COVID-19 rural task force * UK sees ‘way forward’ on ag

Some specialty crop growers are concerned about labor shortages, increased COVID-19 costs, and future market demand.

The Senate OKs a bipartisan agreement to infuse the highly popular Paycheck Protection Program with an additional $320 billion while also making farms eligible for a separate disaster loan program for small businesses. 

Banks and Farm Credit System institutions on Friday began taking applications from farmers and other small businesses for $349 billion in forgivable loans aimed at shoring up the economy during the COVID-19 crisis.