The U.S. Department of Agriculture Farm Service Agency is making emergency loans available to qualified farmers in Kent and Sussex Counties whose crops and products have been affected by the drought.
“These emergency loans can help Delawareans recover from the effects of harsh or severe weather, and I encourage any applicable farmers, growers, producers and businesses suffering from this drought to apply for them,” Senator Tom Carper (D, Del.) said. Loans could be used for purposes such as restoring or replacing essential property, paying all or part of production costs associated with the disaster year, addressing the costs of farming and covering certain debts, and possibly other expenses.
The maximum loan amount for an emergency loan is $500,000. Due to this year’s severe weather, U.S. Secretary of Agriculture Tom Vilsack recently cut the interest rate on these emergency loans to 2.25% from 3.75%.
For more information on these emergency loans, please visit http://www.fsa.usda.gov/.