Coronavirus Financial Assistance Programs for Ranchers & Farmers

Coronavirus Food Assistance Program (CFAP)

What are the first things I should do?

1. ACT NOW CALL YOUR FSA OFFICE...
   It is IMPERATIVE that you call your local FSA office and get on their list as soon as possible. No application will be processed prior to May 26, but the FSA offices will be processing in the order of request.
   To find your local FSA office, please visit: FSA Location Locator
2. Gather inventory information to support your application
   • Contact   details
   • Personal information, including your Tax Identification Number
   • Farming operating structure
   • Adjusted Gross Income to ensure eligibility
   • Direct deposit to enable payment
   • Recent sales and inventory data (Jan  1, 2020 to  now)

What money is available to farmers and ranchers?

• There will be $16 billion dollars to farmers and ranchers. $5.1 billion is expected to be set aside for the cattle industry.
• There is expected to be another $14B in July. 

How do I apply for assistance?

• Call your local FSA office and get on their list, offices will be processing requests in the order in which they were received.    https://www.farmers.gov/service-center-locator

How much money will I potentially get?

• The payment limit is $125,000 per commodity with an overall limit of $250,000 per individual or entity. Qualified commodities must have experienced a 5% price decrease between January and April. A USDA spokesperson said payments would be limited to persons or entities with adjusted gross income under $900,000 unless at least 75% of their income is derived from agriculture.
• Producers will receive a single payment determined using two calculations:
  • Price losses that occurred Jan. 1-April 15, 2020. Producers will be compensated for 85% of price loss during that period.
  • The second part of the payment will be expected losses from April 15th through the next two quarters, and will cover 30% of expected losses.

Can I apply for assistance for multiple commodities, including row crops?

• Yes, you can get additional assistance for up to $125,000 per commodity and $250,000 per individual or entity.

When will checks be in the mail?

• To be determined, USDA hopes they will go out in June.

What other financial assistance programs are available?

• USDA announced farm loan flexibilities, deferrals, and maturity extensions.
• COVID-19 Rural Resource Guide https://www.rd.usda.gov/sites/default/files/USDA_COVID-19_Fed_Rural_Resource_Guide.pdf
• Farm Loan Discovery Tool https://www.farmers.gov/fund/farm-loan-discovery-tool

Source:  Information is summarized from USDA.gov