The Hawaii Department of Agriculture is offering loans of up to $350,000 to farmers impacted by the high winds and wildfires in early August on Maui and Hawaii Island.
The state board of agriculture voted last month to activate the emergency loan program.
“Our Agricultural Loan Division has $5 million in funds available for emergency loan programs,” said Sharon Hurd, chairperson of the board, in a written statement. “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 loans are being offered with a 3% interest rate, according to the government website. For this program, the requirement for prior credit denials is waived. Collateral requirements will be modified or waived on a case-by-case basis.
For more information, call the Agricultural Loan Program on Oahu at (808) 973-9458. Applications for emergency loans may be submitted through February 29, 2024. For more information, go here.
