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Victims Of Farmer Loan Discrimination Can Finally Get Justice And Compensation

Victims Of Farmer Loan Discrimination Can Finally Get Justice And Compensation

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The USDA has a long-standing history of lending discrimination—particularly for Black & Asian farmers.

According to an NPR analysis of 2022 USDA data that looked at how many direct loan applications were accepted, rejected, or withdrawn per each racial group:

  • The department granted direct loans to only 36% of farmers who identified as Black, with 16% of Black farmers rejected
  • White farmers enjoyed a 72% approval rate with just 4% rejections
  • Also, 48% of Black and Asian farmers withdrew their applications
  • Just 24% of white-identifying applicants.

Sadly, Black and Asian-identifying farmers were the least successful in acquiring a direct loan in the first two years of the Biden administration.

To be eligible for Discrimination Financial Assistance under the IRA, the discrimination must have explicitly occurred about USDA farm lending programs.

Eligibility depends on the loan type and where the discrimination occurred.

In its Discrimination Financial Assistance program, the IRA provides up to $2.2 billion in total funding, with a maximum amount of $500k per claim.

However, many are concerned that the allocated funds may not be sufficient to help everyone who needs assistance—Congress may allocate more funds in the future, but more is needed.

Applying for assistance would take longer to avoid funds running out before the deadline, leaving those in need without assistance.

To determine eligibility and take appropriate action, seeking legal advice and guidance is imperative.

We believe all victims of farmer loan discrimination—mainly Black & Asian farmers—should finally get justice and compensation, starting with a free, private case evaluation.

Click Below To Check Eligibility

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