Farmers and ranchers will soon be able to make online payments for USDA direct loans.
According to a department press release, the online payment feature will save time not only for producers, but also for personnel in local Farm Service Agency offices, allowing workers to devote more time to “focus on reviewing and processing new loans or servicing requests.”
Local FSA service centers process more than 225,000 farm loan payments annually, USDA says.
The department’s new payment portal, Pay My Loan, will be available at Farmers.gov early in February.
Producers who want to use the feature must set up a USDA customer account and a USDA Level 2 eAuthentication (“eAuth”) account or a Login.gov account, USDA says.
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FSA has already taken several steps that the department says are streamlining the loan application process. A new online loan application is interactive and allows an electronic application option and the ability to attach tax returns and other supporting documents. A paper application for direct loans has been cut from 29 to 13 pages.
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