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Farmers Will be Able to Start Applying for Stimulus Funds Next Week

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Farmers Will be Able to Start Applying for Stimulus Funds Next Week

Photography by Elitprod on Shutterstock. Article by Alex Robinson.

Farm bankruptcies rose by 23 percent in March.

After the long weekend, farmers will be able to start applying for some much needed financial relief.

On Tuesday, President Donald Trump and USDA chief Sonny Perdue released the details of a previously announced $16-billion stimulus program for farmers and ranchers. Starting May 26, farmers will be able to apply for up to $250,000 in direct payments through the fund called the Coronavirus Food Assistance Program (CFAP).

To qualify for the program, farmers must have suffered a price loss of at least 5 percent due to the COVID-19 pandemic, and must have significant additional marketing costs. Farmers can sign up through the Farm Service Agency. […]

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