Eligible Drought-Affected Farmers Can Apply For Zero-Interest Loans
22 Jul 2021
Government, Agriculture, News, Business, Economic Development, Community
Farmers in Central Minnesota who the ongoing drought has hurt can apply for interest-free loans.
The Minnesota Department of Agriculture’s Rural Finance Authority (RFA) Board certified that an emergency exists in Minnesota due to drought, making zero-interest loans available immediately for Minnesota farmers whose operations are suffering from lack of rain.
The Disaster Recovery Loan Program is designed to help farmers cover lost revenue or expenses not covered by insurance.
The funds can be used to help clean up, repair, or replace farm buildings, repair or replace septic and water systems, replace seed, fertilizer (or other cropping inputs), feed, or livestock and poultry.