Date: 10/31/2024
Type: Implementation of IRA
On October 31, 2024, USDA announced the launch of the Southern Farmers Financial Association (SFFA). The SFFA is a cooperatively-owned organization which will help members access capital to begin or strengthen small farming operations in high poverty areas in the Southeast. The SFFA launched with $20 million in seed funding from the IRA and it will seek private sector capital to continue its mission in the future, eventually with a full-time staff.
The SFFA’s initial funding comes from IRA section 22007, which appropriated money to the USDA to provide assistance and support for underserved farmers, ranchers, and foresters.