The Michigan Legislature is allocating $15 million to a low-interest loan program to help farmers who are grappling with crop losses associated with historic rainfall. The bill won
quick approval Thursday from the Senate and House, and was sent to Gov. Gretchen Whitmer for her expected signature. The legislation would appropriate $15 million into the Agricultural Disaster Loan Origination Program. Growers, processors and handlers can get a 1% interest rate on loans. In as statment to WPHM, local State Senator Dan Lauwers applauded the passage of the bills. “This low-interest loan program will give farmers affected by the wet spring an important option for bridging the loss of revenue they will experience this year,” said Lauwers. “Not planting a crop is like running a store or factory with no product — you have all the expenses with nothing to sell.”
