Disaster Set-Aside loan provision available to eligible MN farmers
The Minnesota Farm Service Agency state director is reminding the roughly 3,500 farmer-customers who have direct loans through FSA they can have their next payment set aside.
Joe Martin tells Brownfield a USDA disaster loan provision has been broadened to allow eligible farmers more time to improve their cashflow in the wake of COVID-19.
“Really what this is about is recognizing the stress that coronavirus has caused for prices, and supply disruptions.”
He says direct borrowers of FSA having difficulty making payments should reach out to their loan officer to discuss the Disaster Set-Aside loan provision and other programs available for potential restructuring.