Relief Available to the Agribusiness Industry through the Coronavirus Food Assistance Program

The Coronavirus Food Assistance Program provides direct relief to producers who faced price declines and additional marketing costs due to COVID-19. This program comes as part of the CARES Act, a $2 trillion economic relief package passed in March to provide fast and direct economic assistance for American workers, families, and small businesses.

As of May 26, 2020, farmers and ranchers who have been hurt financially by the coronavirus pandemic can request and receive aid. Once deemed eligible, recipients of the aid will receive one payment.

Eligibility conditions of the program include:

  • Farmers and ranchers must have sustained a price decline of 5% or greater, or
  • Sustained losses because of supply chain disruptions caused by the pandemic
  • Commodities include certain crops, livestock, wool and dairy

Those interested in applying should do so through their local Farm Service Agency Service Center.

See a full list of eligibility guidelines and procedures for aid applications on the USDA’s page about the program.

Regarding CFAP ag assistance for farm producers:
USDA website – info on CFAP including application and calculator:  https://www.farmers.gov/cfap

CFAP Webinar PPT slide presentation: https://www.calt.iastate.edu/covid-19-resources

More Information Available: Agribusiness Shareholders Mike Regan and Eric Thuente, recently held a Q&A panel to help ag-based businesses and producers decipher recently enacted legislation related to the COVID-19 pandemic. Continue reading here.

Our teams at BerganKDV are rallying together and working around the clock to ensure we’re up and running so you can be up and running. Whatever situation you’re faced with, at any time, you can call our task force and we’ll get you the answers, the listening ear and/or the quick support you need: 888-356-2295 or info@bergankdv.com.

CATEGORIES: Agribusiness | COVID-19
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