ERP Phase 2 and PARP Due this Friday
Just a reminder that USDA has not extended the due date for ERP Phase 2 and PARP. They are both due this Friday.
Just a reminder that both ERP Phase 2 and PARP applications are due this Friday. We continue to see that many producers will not qualify for ERP Phase 2 and more will qualify for PARP.
USDA has not announced whether they will extend this deadline one more time so make sure to get your application in by this Friday.
Once the deadline is past, then USDA will crunch the numbers and determine how much of your application will be paid. The original estimate was about 80% on ERP Phase 2 and 10% on PARP.
As an example, assume your original ERP Phase 2 application showed a gross payment of $100,000. This means your actual payment might only be $80,000.
If your original PARP application showed a gross payment of $75,000, then your final payment might only be $7,500.
However, the final numbers will be different and based on the analysis we have seen so far, I don’t think USDA will get the dollar amounts they were expecting.
We will keep you posted.
I have not heard anything yet on when PARP will be paid. Now that ERP Phase 2 has been paid out, I would think they should be able to finalize PARP and send out payments soon.
Have you heard a possible payment date for PARP?