"Not only is USDA suspending the pipeline of adverse actions that can lead to foreclosure and debt collection, we are also working with the Departments of Justice and Treasury to suspend any actions already referred to the applicable Agency. Additionally, we are evaluating ways to improve and address farm related debt with the intent to keep farmers on their farms earning living expenses, providing for emergency needs, and maintaining cash flow," Bonnie said.
The temporary suspension is in place until further notice and is expected to continue while the national COVID-19 disaster declaration is in place.
The Farm Service Agency provides several different loans for producers, which fall under two main categories: