USDA Unveils Lending Assistance Tool to Strengthen Equity and Customer Service

contact:
FPAC.BC.Press@usda.gov

WASHINGTON, Oct. 26, 2022 – The United States Department of Agriculture (USDA) has launched a new online tool to help farmers and ranchers better navigate the agricultural loan application process. This unified application process helps all farm loan applicants receive equal support and a consistent customer experience from the USDA’s Farm Service Agency (FSA), regardless of their individual circumstances.

“The USDA recognizes that more needs to be done to ensure that all customers have equal access to our programs and services.” Another example of taking responsibility and ensuring that existing systems, processes and policies are updated to be fair to all customers.This tool will help loan applicants better understand the application process and It helps us collect the necessary paperwork before the process begins.”

USDA has a high rate of incomplete or withdrawn applications, especially among underserved customers, due to the difficult and time-consuming paper-based application process. The Loan Assistance Tool is available 24/7 and provides customers with an online step-by-step guide that supplements the support they receive when interacting directly with USDA employees, helping applicants finance with his one tool. We provide materials to help you prepare your application.

Farmers can access the Loan Assistance Tool at:farmer.gov/farm-loan-assistance-tool [開始]Click the button. From here, you can follow the prompts to complete the eligibility self-assessment and start your agricultural loan journey. The tool is built to run on modern browsers such as Chrome, Edge, Firefox and Safari browsers and is fully functional on mobile devices. It doesn’t work in Internet Explorer.

The loan assistance tool is the first of several farm financing process improvements that will be available to USDA customers on farmers.gov in the future. Other improvements and tools slated for release in 2023 include:

  • Streamlined and simplified direct loan application reduced from 29 to 13 pages.
  • An interactive online direct loan application that offers customers the option of paperless electronic signatures and the ability to attach supporting documents such as tax returns.
  • An online loan direct repayment feature that eliminates the need for borrowers to call, mail, or visit a local service center for loan installments.

Background

USDA provides access to credit for approximately 115,000 growers who cannot obtain sufficient commercial credit through direct and guaranteed agricultural loans. With funding and direction provided by Congress in Section 22006 of the Control Inflation Act, the USDA is taking immediate action. Providing Relief to Eligible Debtors We are committed to transforming our lending services to provide borrowers with the flexibility and opportunity they need to address the inherent risks and unpredictability of farming operations, while exposing them to financial risks. It has been.

USDA touches the lives of all Americans every day in so many positive ways. In the Biden-Harris administration, the USDA will transform America’s food system to create more resilient local and regional food production, fairer markets for all producers, safer, healthier and more nutritious food for all communities. The focus is on ensuring access to high quality food and building new markets and flows. Increasing incomes for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, removing systemic barriers, and making America a better place. Ensure equity across sectors by building a more representative workforce. For more information, please visit the following URL: usda.gov.

Leave a Comment