Farmers and Ranchers now have more time to repay Marketing Assistance Loans as part of USDA’s implementation of the CARES act legislation. Bobbie Kriz Wickham with the Nebraska State office of the Farm Service Agency says this will help producers by giving them an extra three months to get those loans paid.
She says the extension is also in effect for those who still want to apply for marketing assistance loans prior to September 30.
Wickham says the deadline for obtaining a marketing assistance loan for the 2019 crop year is the first of June.
Agriculture Secretary Sonny Perdue notes that spring is the season when most producers have the highest need for capital, and many may have or are considering putting commodities under loan so his agency is pleased to be able to offer this flexibility.
