What does AIDA mean in MORTGAGE

AIDA stands for Agricultural Income Disaster Assistance and is a federal program administered by the United States Department of Agriculture that provides financial assistance to farmers in areas affected by natural disasters.

Eligible claimants must own or operate an agricultural enterprise that has suffered at least a 30% decrease in income due to a natural disaster, and have had directly incurred losses related to the disaster.

Applications can be submitted online through the USDA's website or through your local Farm Service Agency (FSA) office. The application must include information about the natural disaster, farm operation, producers involved, and other necessary documentation.

Yes, applications must be submitted within 90 days from when the USDA declares a natural disaster event.

Eligible disasters under this program include droughts, floods, temperature extremes, hurricanes, tornadoes, blizzards, storms and any extreme weather-related event which results in significant losses.

Once your application has been reviewed and approved by the FSA office, you will be notified via mail within 45 days of submitting your application. You may also check online on the USDA’s Disaster Assistance Program website for updates regarding your application status.

Documentation that needs to be included with the application includes receipts or invoices of goods purchased; soil mapping/drainage analyses; insurance records showing coverage limits; tax returns; proof of ownership/leases; production records including yield/acreage reports; crop insurance records; market value price data; and acreage maps.

Yes, applicants must have also suffered at least a 30% reduction in their total average gross income from all farm operations compared with any three consecutive years prior to the declared disaster year(s). In addition, applicants must have actively participated in both crop and livestock production during the applicable calendar year(s).