USDA Announces Emergency Payment Details

The U.S. Department of Agriculture (USDA) today announced additional details about the Coronavirus Food Assistance Program (CFAP), providing $16 billion in emergency direct payments to agricultural producers impacted by the COVID-19 pandemic. Cattle, hog, dairy, specialty crop and row crop producers are eligible for payments, according to USDA. 
 
Enrollment will begin May 26. According to USDA, CFAP payments will be prorated, providing 80% of the payment in the initial distribution and the remaining 20% at a later date, as funds allow.
 
USDA stated today a payment limitation of $250,000 per person or entity for all commodities combined will apply to CFAP, with some additional considerations for corporations, limited liability companies or limited partnerships. The Farm Credit Council joined a number of farm organizations, particularly livestock groups, in advocating for raising the CFAP payment limit.
 
Click here to read USDA’s press release. For additional information, visit farmers.gov/cfap or contact your local Farm Service Agency office.

During this unprecedented time regarding COVID-19, we encourage you to enroll in and utilize myFarmCredit secure portal to conveniently access your account information, make payments and transfer funds at any time.

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