WASHINGTON — The US Department of Agriculture is investing $130 million in additional funding for qualifying farm loan program borrowers facing financial risk.

The funds are part of the $3.1 billion dedicated through the Inflation Reduction Act (IRA) to help distressed farm loan borrowers.

“Through the Inflation Reduction Act, Congress directed USDA to deliver financial assistance to distressed farm loan borrowers as quickly as possible, and that is what we are delivering to help producers across the country stay on their land,” said Agriculture Secretary Tom Vilsack. “USDA is hard at work to provide our most vulnerable producers the opportunity to generate long-term stability and success. Our goal is to make sure we provide producers access to the tools they need to help get back to a financially viable path and ultimately succeed as thriving agricultural businesses.”

Including the most recent funds, USDA has provided $1.1 billion in automatic financial assistance to over 20,000 farmers since the IRA was enacted in August 2022.

The Farm Service Agency will accept requests from distressed farm loan borrowers for the next round of aid beginning in May.