For Farmers Surviving the Pandemic, Timely Federal Grants and CDFIs Made All the Difference
May 07, 2021
Last winter, farmers in Maine may have had little hope of still being in business in the spring of 2021, given how their businesses were rocked by the pandemic. But for many, their fortunes quickly changed when Coastal Enterprises Inc. (CEI), Maine’s longtime community development financial institution (CDFIs), stepped in to administer millions of dollars in 2020 CARES Act assistance to farmers across the state.
In just 25 days during December 2020, CEI administered $17.4 million in CARES Act funding to 437 farmers, producers and processors across the state. The grants ranged between $1,000 and $100,000 for pandemic-related infrastructure investments, making unplanned e-commerce investments, and more. For some, the grants literally saved their businesses. While CEI is a lender and not a grant-making agency, it is an example of how CDFIs can rise to the challenge of disbursin
FSA quickly implemented crucial programs amid challenging year
Purkey
SIDNEY USDA’s Farm Service Agency (FSA) helped farmers, livestock producers and foresters weather a tough 2020, marked with a pandemic and natural disasters. During the COVID-19 pandemic, FSA continued to deliver farm programs to producers through phone and online tools, using social distancing guidelines. The agency also provided extra flexibilities to its programs, adjusting reporting dates and loan processing timelines, and continued to expand technology and streamline services to enhance efficiency and effectiveness.
“Shelby County has over of 200,000 cropland acres with the top three commodities being soybeans, corn and wheat. We serve over 3,000 farm operators and owners,” said Annette Purkey, the Shelby County executive director (CED) for the Farm Service Agency (FSA). She also serves as the Acting CED for the Miami County FSA office.
USDA suspends some debt collections, foreclosures
Actions temporarily suspended for several thousand distressed borrowers due to coronavirus
From Montana FSA BOZEMAN Due to the national public health emergency caused by coronavirus disease 2019 COVID-19 the U.S. Department of Agriculture announced last week the temporary suspension of past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct Farm Loan programs administered by the Farm Service Agency. USDA will temporarily suspend non-judicial foreclosures, debt offsets or wage garnishments, and referal to foreclosures to the Department of Justice. USDA will work with the U.S. Attorney’s Office to sto.
Ag News: Past-Due Farm Loan Collection and Empty Cargo Containers
Getty Images Thanks to COVID-19, the USDA has temporarily suspended past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct Farm Loan programs administered by the Farm Service Agency.
According to www.agrimarketing.com, the announcement expands previous actions undertaken by the USDA to lessen financial hardship.
According to USDA data, more than 12,000 borrowers, approximately 10% of all borrowers, are eligible for the relief. While U.S. ag exports rose in the second half of the year, there’s mounting evidence shipping companies are leaving U.S. ports and returning to Asia with empty cargo containers rather than filling them with American ag products.