USDA offers farmers e-loan payment service
- By Mary Mosquera
- Oct 08, 2004
The Agriculture Department now lets farmers request loan payments online and receive them automatically in their bank accounts.
USDA launched the Electronic Loan Deficiency Payment Service to eliminate the need for farmers to travel to USDA service centers to apply for the loans.
Marketing assistance loans and loan deficiency e-payments are available for producers of barley, canola, corn, rapeseed, soybeans, wool, mohair and many other commodities.
When local market prices are less than the marketing assistance loan rate, producers can choose to receive loan deficiency payments for their crops in lieu of marketing assistance loans.
Eligible farmers and ranchers are required to obtain an authentication certificate from the department.
They must fill out registration forms available online at www.sc.egov.usda.gov and visit an Agriculture service center to verify their identity.
Mary Mosquera is a reporter for Federal Computer Week.