Farmers may seek low-interest disaster loans
ST. PAUL -- Low-interest loans are available to farmers affected by floods and other severe weather in 28 Minnesota counties.
The Minnesota Rural Finance Authority announced the loan availability Wednesday, following a presidential disaster declaration in April.
Weather-related damages not covered by insurance may allow farmers to receive the loans. For instance, farmers may apply for building repairs or replacement or for purchase of feed to replace lost crops.
Loans will be for up to 10 years at 3 percent annual interest. Farmers need to contact their local lenders to seek the loans.
Counties affected are Becker, Beltrami, Chippewa, Clay, Clearwater, Cook, Douglas, Grant, Hubbard, Kittson, Lac Qui Parle, Lake, Lake of the Woods, Mahnomen, Marshall, Norman, Otter Tail, Pennington, Polk, Pope, Red Lake, Roseau, Stevens, Swift, Traverse, Wadena, Wilkin and Yellow Medicine.