USDA Rework Farm Loan Application Process

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Agricultural Producers — If you’re struggling with the federal farm loan process, the U.S. Department of Agriculture says it’s working to help you.

USDA recently launched a new online tool designed to help farmers and ranchers better navigate the application process. One of our goals is that all farm loan applicants receive the same support and have a relatively consistent customer experience with the USDA’s Farm Service Agency. USDA also said the new Loan Assistance Tool should result in a higher rate of incomplete or withdrawn applications.

when you’re online Farmers.gov, growers can click Loans and scroll down to Farm Loan Assistance Tools. Producers begin the process by ‘initiating self-assessment of qualifications’ before continuing. The tool is built to run in several internet browsers, not Internet Explorer, including Google Chrome, Firefox, Edge and Safari, and the USDA says the tool works perfectly on mobile phones. .

USDA says other improvements are planned for the farm financing process next year.

*Direct Loan Application Form will be simplified from 29 pages to 13 pages
*We have an interactive online application that provides customers with electronic signature options and the ability to attach supporting documents.
*There is also an online direct loan repayment feature, so borrowers do not need to call, mail, or visit the FSA Service Center to make payments.

Click here for a link to USDA’s Farm Loan Assistance Tool.

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