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USDA to provide $1 billion in rural business and ag producer loan guarantees

 


Press release

WASHINGTON —U.S. Secretary of Agriculture Sonny Perdue announced Thursday that 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 that are not eligible for USDA Farm Service Agency loans may receive funding under USDA B&I CARES Act Program provisions included in the Coronavirus Aid, Relief, and Economic Security Act.

In addition to expanding eligibility to certain agricultural producers, the changes Perdue announced allow USDA to:

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