Emergency loans available for farmers, ranchers impacted by wildfires
Emergency loans will be available to Maui and Hawaii island farmers and ranchers who suffered damage from the high winds and wildfires earlier this month.
The state Board of Agriculture voted Tuesday to activate the emergency program, which is allowed under an emergency proclamation issued by then-Acting Gov. Sylvia Luke on Aug. 8, according to the state Department of Agriculture.
“Our Agricultural Loan Division has $5 million in funds available for emergency loan programs,” Board of Agriculture Chairperson Sharon Hurd said in a news release Wednesday. “We continue to work with our federal, state, county and industry partners in surveying the damage and determining the recovery needs of farms and ranches impacted by this disaster.”
The program offers maximum emergency loans up to $350,000 with an interest rate of 3 percent. The terms of the loans will be determined on a case-by-case basis. Consideration will be based on historical farm performance and projected cash flow based on reasonable assumption of review and expenses.
The requirement for credit denials and the three-year residency requirement are both waived. Collateral requirements may be modified or waived on a case-by-case basis.
Emergency loan applications may be submitted until Feb. 29.
For agribusinesses needing loans of $50,000 or less, micro-loans involving less paperwork and swifter processing are also available.
Impacted agricultural operations interested in applying should contact the Agricultural Loan Program on Oahu at (808) 973-9458 or email hdoa.agloan@hawaii.gov. Loan applicants need to provide estimates of losses and should document the damage with photos.
Federal disaster assistance is also available with the following U.S. Department of Agriculture agencies:
• Farm Service Agency at the Maui Service Center Office at 77 Hookele St., second floor, in Kahului. Contact by phone at (808) 871-5500, ext., 2 or by fax at (808) 356-9494. For more information on the Disaster Assistance Program, visit www.fsa.usda.gov/programs-and-services/disaster-assistance-program/index. For a disaster assistance toolkit, visit www.farmers.gov/protection-recovery/disaster-tool.
• Natural Resources Conservation Service. Contact by phone at (808) 600-2935 or visit www.nrcs.usda.gov/programs-initiatives/eqip-environmental-quality-incentives.
• Rural Development. Contact by phone at (808) 933-8380 or find a disaster toolkit at www.rd.usda.gov/sites/default/files/rd_disastertoolkit-final508.pdf.