GDA: Disaster Assistance Available for Farmers Affected by Hurricane Michael

Effective today, farmers with damage from Hurricane Michael may be eligible for disaster assistance from funds allocated during the special legislative session convened by Governor Nathan Deal on November 13, 2018. The Fiscal Year 2019 Appropriation Act was amended to provide emergency funding for state agencies and local governments in areas most heavily impacted by Hurricane Michael. Funds include $55 million for emergency disaster relief loans.

In keeping with its rural rehabilitation roots, the Georgia Development Authority will administer the special $55 million loan program for the purpose of providing timely relief to Georgia Farmers through the SAFETY 21 Loan Program. Funds will be loaned in order to bridge the gap until other disaster program and insurance funds become available. To be eligible for assistance, the applicant must be a farmer suffering a loss to their income as a result of Hurricane Michael. Loans will have a 7-year term with a graduated rate starting at 1 percent. For more information,visit www.gdaonline.com or www.agr.georgia.gov.

As a result of Hurricane Michael, Southwest Georgia experienced approximately $2.5 billion in losses within the agriculture and timber industries. More information about projected losses from Hurricane Michael is available at http://agr.georgia.gov/gda-hurricane-response.aspx

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