Inflation Reduction Act Financially Distressed Borrowers Technical Assistance

The Inflation Reduction Act (IRA) was signed into law on August 16, 2022. Section 22006 of this law provided additional funding to provide relief for distressed borrowers with certain FSA direct and guaranteed loans and expedited assistance to agricultural operations at risk. Section 22007 provided funding for technical assistance regarding farm financial management for historically underserved farmers and ranchers. Financially distressed borrowers require skilled technical assistance providers FSA is establishing a nationwide network of 1:1 TA Service Providers and Peer Supporters to provide knowledgeable and compassionate direct support to financially distressed borrowers. This funding opportunity and initiative is designed to address the significant financial hardships and barriers that farmers and ranchers are currently experiencing, including disasters and other challenges that necessitate individualized support. This work will provide support for organizations working with distressed borrowers and give them resources and training to assist farmers in accessing IRA authorized assistance.