The USDA is modifying its borrowing program for the agriculture industry, with a focus to help those in underserved areas, department officials said.
“USDA remains committed to examining barriers faced by all borrowers, especially those in economic distress, new and beginning, socially disadvantaged or otherwise underserved producers," Zach Ducheneaux, Administrator for USDA’s Farm Service Agency, said in a release.
Aside from helping underserved areas, the farm loan program will help current borrowers, the USDA said.
The changes come as part of the department's efforts to make its programs more equitable.
The 2018 Farm Bill authorized FSA to provide equitable relief to borrowers, even those non-compliant with program requirements due to good faith reliance on actions by FSA officials.
"This improvement to our farm loan programs recognizes the needs of producers and more importantly enacts equitable relief provisions to ensure they get a fair shake," Ducheneaux said.
