News release from Dept. of Agriculture on emergency loan program for farmers and ranchers

Posted on Aug 23, 2023 in Latest Department News, Newsroom

HONOLULU – The Hawai‘i Board of Agriculture (Board) yesterday voted to activate an emergency agricultural loan program to assist Maui and Hawai‘i Island farmers and ranchers suffering damage from the high winds and wildfires this week. The Hawai‘i Department of Agriculture’s Agricultural Loan Program submitted the request to the Board and will administer the program effective immediately. The Emergency Proclamation issued by then-Acting Gov. Sylvia Luke on Aug. 8, 2023 allows the Board to activate the emergency program.

The emergency loan parameters are as follows:

Maximum loan amount: $350,000
Interest rate: 3 percent
Terms of the loans are to 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.
Requirement for credit denials waived
Three-year residency requirement waived
Collateral requirements may be modified or waived on a case-by-case basis.
Emergency loan applications may be submitted until February 29, 2024.

Impacted agricultural operations interested in applying should contact the Agricultural Loan Program on O‘ahu at (808) 973-9458. Loan applicants need to provide estimates of losses and should document the damage with photos.

“Our Agricultural Loan Division has $5 million in funds available for emergency loan programs,” said Sharon Hurd, chairperson of the Board. “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.”

For agribusinesses needing loans of $50,000 or less, micro-loans involving less paperwork and swifter processing are also available.

Program contact:

Agricultural Loan Division – (808) 973-9458

Email: [email protected]

Federal disaster assistance is also available through the following U.S. Department of Agriculture (USDA) agencies:

USDA Farm Service Agency (FSA)

Maui Service Center Office:

77 Hookele St., 2^nd Floor, Kahului. Phone: (808) 871-5500 ext. 2; Fax: (808) 356-9494

Hawai‘i County Service Center Office:

154 Waianuenue Ave.. Room 311, Hilo. Phone: (808) 933-8381, ext. 2, Fax: (808) 356-9492

Disaster Assistance Program: https://www.fsa.usda.gov/programs-and-services/disaster-assistance-program/index
FSA Disaster Assistance Discovery Toolkit – https://www.farmers.gov/protection-recovery/disaster-tool

USDA Natural Resources Conservation Service

Phone: (808) 600-2935

Environmental Quality Incentives Program: https://www.nrcs.usda.gov/programs-initiatives/eqip-environmental-quality-incentives

USDA Rural Development

Phone: (808) 933-8380

Disaster toolkit – https://www.rd.usda.gov/sites/default/files/rd_disastertoolkit-final508.pdf

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Media Contact:
Janelle Saneishi, Public Information Officer
Hawaiʻi Department of Agriculture
(808) 973-9560
[email protected]
http://hdoa.hawaii.gov