SPRINGFIELD, Ill. (WAND) - The U.S. Department of Agriculture is launching the Distressed Borrowers Assistance Network, an initiative designed to provide personalized support to financially distressed farmers and ranchers.
Through a series of Cooperative Agreements, it will connect distressed borrowers with individualized assistance to help them stabilize and become financially stable.
“I started my off-ranch career as a Farm Advocate, working hand-in-hand with other tireless farmer advocates. Having someone with experiences in ag finance help producers work through financial difficulties can be the difference between them losing the farm or prospering,” said FSA Administrator Zach Ducheneaux. “The Distressed Borrowers Assistance Network underscores our dedication to farmers and ranchers receiving the tailored support they need. These partnerships also illustrate that USDA acknowledges the importance of these advocates and sees them as part of the solution to ensure program access for all farmers, ranchers, and producers.”
Network partners include Farm Aid, Rural Advancement Foundation International, the University of Arkansas, the Socially Disadvantaged Farmers and Ranchers Policy Center at Alcorn State University, and the University of Minnesota.
The initiative will involve collaborations with community-based organizations. Network partners will provide farm loan policy training to the community-based organizations so the organizations can work alongside FSA to help producers understand financing available through FSA.
FSA will facilitate this network, which will provide the technical resources and guidance of USDA partners to experts from distressed and underserved communities.
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