Page 144 - Inflation-Reduction-Act-Guidebook

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Assistance for Distressed Borrowers

Federal Agency: Department of Agriculture
Bureau or Office: Farm Service Agency

IRA Statutory Location: 22006

Program Description: To expedite assistance to distressed borrowers of direct or guaranteed
loans administered by USDA’s Farm Service Agency (FSA) whose operations face financial
risk. In October 2022, with funding from the Inflation Reduction Act, USDA provided nearly
$800 million in payments to distressed borrowers to help cure delinquencies and resolve
uncollectable farm loan debts.

Funding Amount: $3,100,000,000

Period of Availability: To remain available until September 30, 2031.

Funding Mechanism: Direct Federal Spending

New or Existing Program: New

Eligible Recipients: Direct Federal Spending

Tribal Eligibility: Yes. Tribal governments as well as individual Tribal members or
organizations.

Eligible Uses: Direct federal spending to expedite assistance to distressed borrowers of direct or
guaranteed loans administered by USDA’s Farm Service Agency whose operations face financial
risk.

Cost Share Requirements: N/A

Formula Funding: N/A

SAM.gov Assistance Listing: N/A

Relevant Announcements: USDA Provides Payments of nearly $800 Million in Assistance to
Help Keep Farmers Farming (10/18/2022)

B U IL D IN G A C L E A N E N E R G Y E C O N O MY 139
G U ID E B O O K | J AN UARY 20 2 3 | VE RS I O N 2