USDA to provide guarantees for rural businesses, ag producers


U.S. Senator Kevin Cramer (R-ND) issued the following statement on the U.S. Department of Agriculture (USDA) making $1 billion in loan guarantees available for rural businesses and agricultural producers:

“Secretary Perdue is providing additional avenues for the Trump Administration to help rural Americans receive assistance during the COVID-19 pandemic. I encourage North Dakota’s businesses and agricultural community to familiarize themselves with these resources to see if they are eligible.”

USDA Secretary Sonny Perdue made this announcement today.

“Under the leadership of President Trump, USDA is committed to being a strong partner to rural businesses and agricultural producers and being a strong supporter of all aspects of the rural economy,” Secretary Perdue said. “Ensuring more rural agricultural producers are able to gain access to much-needed capital in these unprecedented times is a cornerstone of that commitment.”

According to USDA, the Department is making up to $1 billion in loan guarantees available to help rural businesses meet their needs Additionally, agricultural producers not eligible for USDA Farm Service Agency (FSA) loans may receive funding under the USDA Business & Industry (B&I) CARES Act Program.