Source: FARM PROGRESS, 4/13/20


USDA is giving producers more time to repay Marketing Assistance Loans as part of the implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020. The loans now mature at 12 months rather than nine, and this flexibility is available for most commodities. “Spring is the season when most producers have the biggest need for capital, and many may have or are considering putting commodities under loan. Extending the commodity loan maturity affords farmers more time to market their commodity and repay their loan at a later time,” said Agriculture Secretary Sonny Perdue.

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