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Extension > Agricultural Business Management News > Financial Help Available For Farmers Impacted By Floods

Thursday, October 6, 2016

Financial Help Available For Farmers Impacted By Floods


Updated Disaster Loan Program Available


The Minnesota Rural Finance Authority (RFA) has just released updated information regarding their Disaster Loan Program. Farmers who experienced losses as a result of recent flood conditions can qualify for a zero-interest loan through the RFA. This RFA loan is a participation (or essentially shared) loan with the producer's current lender. The RFA portion of the loan is limited to 45 percent of the principal balance, up to a maximum amount of $200,000. This loan can be used to "replace or repair items lost or damaged due to flooding and not covered by insurance" according to the MN Department of Agriculture News Release.

For more information, farmers should contact their local lender or the MN RFA at 651-201-6004.

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