Hoeven Announces USDA Loan Guarantees Available for Ag Producers and Rural Businesses from CARES Act

WASHINGTON – Senator John Hoeven, chairman of the Senate Agriculture Appropriations Committee, today announced that the U.S. Department of Agriculture (USDA) is making up to $1 billion in loan guarantees available. Today’s announcement will benefit rural businesses as well as agriculture producers currently ineligible for USDA Farm Service Agency loans. This funding is available through the Coronavirus Aid, Relief and Economic Security (CARES) Act through the Business and Industry (B&I) CARES Act program. 

“As USDA continues working to make funds available, today’s announcement provides an opportunity for rural businesses and agricultural producers impacted by the coronavirus pandemic to gain access to capital, and I encourage North Dakota businesses and producers to apply,” said Hoeven. 

Interested applicants should contact the USDA Rural Development State Office to learn about their eligibility and to apply.