Coronavirus Food Assistance Program
May 21, 2020
|Coronavirus Food Assistance Program (CFAP)
|Call your local FSA office on Tuesday May 26!!
The USDA announced $16 billion in direct aid. Nearly every type of farm operation across the U.S. is eligible. The funding will be a combined payment sourced from two pools of money: Congressional CARES Act and Commodity Credit Corporation (CCC).
Payments for corn, soybeans, and wheat will be a per bushel payment based on either 50% of the 2019 production or 2019 inventory on January 15th, 2020, whichever is the least. The table below summarizes the non-specialty crop payment amounts.
Producers will initially receive 80% of their eligible payment, with the remainder delayed ensuring that as many farmers as possible receive payments before the $16B is exhausted. Payments are capped at $250,000 per person or entity.
If the PPP loan program is an indicator, it will not be surprising if the $16B runs out quickly and Congress must debate if and what additional funds they will add to the program. Make sure you are at the front of the line for the first round. The early bird gets the federal payment.
Call your local FSA office on Tuesday May 26 to schedule an appointment to apply for the program.
Watch this 3-minute video from the USDA describing the application process.
Learn more at the USDA CFAP website.