USDA now accepting farm loan payments online

USDA now accepting farm loan payments online Main Photo

29 Mar 2024

News, Agriculture

The U.S. Department of Agriculture (USDA) announced that most farm loan borrowers are now able to make payments to their direct loans online through the Pay My Loan feature on Pay My Loan is part of a broader effort by USDA’s Farm Service Agency (FSA) to streamline its processes, especially for producers who may have limited time during the planting or harvest seasons to visit a local FSA office; modernize and improve customer service; provide additional customer self-service tools; and expand credit access to assist more producers.  

 On average, local USDA Service Centers process more than 225,000 farm loan payments each year. Pay My Loan gives most borrowers an online repayment option and relieves them from needing to call, mail, or visit a Service Center to pay their loan installment. Farm loan payments can now be made at the borrower’s convenience, on their schedule and outside of FSA office hours. 

Read the full article here.