Earlier today, representatives from various programs met to discuss the myriad ways that the U.S. Department of Agriculture's programs support industrial hemp farmers.
In the public webinar, representatives from the Rural Business Cooperative Service, Office of the Chief Scientist, Agricultural Marketing Service, Farm Service Agency, Risk Management Agency, and Foreign Agricultural Service shared financial assistance resources available to those in the industrial hemp industry.
What USDA financial assistance is there for the hemp industry?
From the Rural Business Cooperative Service Business and Energy Programs:
Rural Energy for America Program loans and grants
Value Added Producer grants
OneRD Guaranteed Loan Initiative
Business Guaranteed loans
Rural Micro-entrepreneur Assistance Program
Rural Cooperative Development grants
USDA Biopreferred Program
While these programs do not have uniform language stating eligibility for industrial hemp, hemp fiber, textiles, and grain are typically eligible. Of important note, hemp-derived CBD is not eligible for these programs, and businesses with a portion of revenue stemming from hemp-derived CBD products may not be eligible.
From the Farm Service Agency Safety Net Division:
Farm Storage Facility Program
Farm Loan Program
Noninsured Disaster Assistance Program
Crop acreage reporting is necessary for eligibility for these programs.
From the Risk Management Agency: Federal Crop Insurance for Hemp
Multi-peril Crop Insurance
Whole Farm Revenue Protections
Nursery Value Select
Eligibility for these insurance programs may include (but is not limited to) compliance with state, tribal, and federal regulations, a valid license from relevant agencies, one year history of producing the crop, contract for sale of insured crop, and a minimum of 5 acres of hemp grown for CBD and 20 acres of grain/fiber hemp crops to be insurable.
From the Foreign Agricultural Service:
Market Access Program
Regional Agricultural Promotion Program
Assistance with agricultural intelligence and foreign market access
including GAIN Reports for various countries
Cannabinoid products are not eligible for these programs. If part of revenue comes from cannabinoids, this may affect eligibility.
A recording of the webinar will be made available soon. If you need assistance accessing any of these programs, or have any questions about how to procure assistance for your business, we are here to help.
Other ways the USDA is investing in industrial hemp
In addition to the programs offering financial assistance, the USDA Office of the Chief Scientist communicated a commitment to conducting further research on the benefits and uses of industrial hemp.
Read the report here.
For more information on the USDA and hemp, view the USDA website.
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