Exciting News from the U.S. Department of Agriculture!
WASHINGTON, Dec. 5, 2023– The U.S. Department of Agriculture (USDA) has announced the release of an online application for Direct Loan clients. This new online, interactive, guided application boasts paperless innovation and offers convenient features such as an electronic signature option, the capability to attach supporting documents like tax returns, complete a balance sheet, and construct a farm operating plan. More than 26,000 consumers who submit a Direct Loan application each year will benefit from this cutting-edge tool, which is part of a broader effort by USDA’s Farm Service Agency (FSA) to streamline its processes, enhance client service, and expand credit access.
Deputy Secretary Xochitl Torres Small shared, “The Biden-Harris Administration is making it a priority to simplify the loan application process for farmers and ranchers, ensuring they can access the funds they need to sustain their operations and contribute to our nation’s agricultural sector. With USDA’s new online loan application feature, it’s now easier than ever for producers to secure the funding they need.”
The online farm loan application replicates the guidance provided by an FSA Farm Loan Officer and continues to offer clients one-on-one support as needed. This digital tool and other process improvements enable farmers and ranchers to submit complete loan applications and reduce the number of incomplete and withdrawn applications.
Borrowers can track the progress of their loan application through a personalized dashboard, which can be accessed on farmers.gov or by completing FSA’s Loan Assistance Tool at farmers.gov/loan-assistance-tool. To utilize the online loan application tool, producers must create a USDA consumer account and a USDA Level 2 eAuthentication (“eAuth”) account or a Login.gov account. While the online application tool is currently only available for individual farm operators, FSA plans to expand its accessibility to couples operating jointly and other legal entities in 2024.
In addition to launching the online loan application, FSA has implemented several other initiatives to streamline and automate Farm Loan Program customer service processes, including reducing the size of the direct loan paper application and offering a comprehensive Loan Assistance Tool on farmers.gov.
For more information and to apply for a farm loan online, visit the USDA’s official press release here.
