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WHEDA Offering Ag Disaster Loans For Flood Victims
Wisconsin Ag Connection - 08/31/2016

The Wisconsin Housing and Economic Development Authority is providing loan guarantees to farmers who suffered damage from extensive flooding in northern Wisconsin during July. The Agricultural Production Disaster Assistance Loan Guarantee Program can be used to purchase goods or services needed by farmers to produce agricultural commodities or for extraordinary costs related to the flooding.

"WHEDA has been supportive of Governor Walker's efforts to come to the aid of our citizens," said WHEDA Director Wyman Winston. "With this loan guarantee program, WHEDA wants to help ensure disaster relief resources are available to farmers in desperate need."

Gov. Walker recently announced a Federal Emergency Management Agency major disaster declaration for northern Wisconsin counties impacted by July's flooding. The counties named in the declaration are Ashland, Bayfield, Burnett, Douglas, Florence, Iron, Sawyer and Washburn Counties and the Bad River Band of the Lake Superior Chippewa Tribe. Torrential rains hit the area and gusty winds caused trees to uproot and powerlines to snap.

In order to be eligible for the Agricultural Production Disaster Assistance Loan Guarantee Program, a farmer must be unable to obtain conventional financing at reasonable terms. They must have cash demonstrating the likelihood of repayment and available collateral. Costs to be covered must be related to acts of nature where the Governor has issued a declaration of disaster.

The loan guarantee program can be used for fertilizer, seed, fuel, pesticides, herbicides, land rent, equipment rental and repair, animal feed, water delivery in connection with commodities adversely impacted, utility bills for the production of an agricultural commodity, and labor costs directly related to planting and harvesting a commodity.


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