Farmers that had crop losses and flooded fields during the 2008 hurricanes may be eligible for up to $200 million from the proposed federal economic stimulus packaged according to the state Commissioner of Agriculture Mike Strain.
Over 100 farmers gathered at the Southwest Louisiana Farm Day Forum to discuss topics including the coastal protection covered under the 2008 Farm Bill.
The $787Â billion stimulus packaged includes $752 million for U.S. farmers affected by the natural disasters of 2008. A big perk of the program is that farmers can qualify even if they did not purchase coverage prior to the storms.
Strain said Louisiana Farmers may receive up to $200 million from the total $752 million. “Those funds should be flowing very, very soon,” Strain said.
According to Strain, Louisiana may also be approved for $54 million in community development block grants to assist farmers affected by the 2008 hurricanes to replant their crops.
The low-interest loans root from funding Congress approved for any states affected by 2008 natural disasters. “What we envision is that you will be able to come by and get a production loan based on what your losses have been,” Strain said.
If you are interested in purchasing agricultural land, loans are available today. Ranch loans and farm loans are available through Farm Plus Financial and rates are at historic lows. Farm Plus works with various government agencies to help people own a farm of their choice across the country. For more information on farm loans please contact a representative today. Contact one via telephone at 866-929-5585 or visit online.