Wisconsin Aquaculture Association, Inc. - USDA TO OFFER LOAN RESTRUCTURING

Wisconsin Aquaculture Association, Inc.

Wisconsin Aquaculture Association, Inc.
September 07, 2010 12:33 PM US Central

Something Special - Wisconsin Aquaculture Association, Inc.

USDA TO OFFER LOAN RESTRUCTURING

The Agriculture Department will try to help U.S. farmers and rural businesses survive the recession by offering loan restructuring and low-interest loans as needed. In announcing the initiative Monday, Agriculture Secretary Tom Vilsack said USDA would use its authority to maximize relief to borrowers. It sent a letter to borrowers to outline options including loan rescheduling, reamortization, deferral of payments and debt reduction. In addition, USDA encouraged lenders that use USDA loan guarantee programs to explore all options to assist struggling producers. The options are similar to those offered under land ownership and farm operating loans made by USDA. Read the Reuters article and USDA news release

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