New Loan Program For Hay Storage
A new loan program is aiming to help local farmers. The Facility Loan Program provides low interest loans for new facilities and equipment. The program just expanded to include structures for hay, fruits and vegetables.
“Hay is, by far, our biggest crop in this county… Hay is the biggest crop in Southeastern Ohio, so this is a huge program and it is a win-win for everybody. Taxpayers, we get a percent more than what it costs us to lend money, we generate construction jobs, timber jobs, sawmill jobs, and then it is good for the farmers. So this is a great program,” explains Bill Huston the County Executive Director.
The program can provide loan funds for either 80% or 85% of the total loan costs. Anybody in any county can apply to build a storage facility, but you do have to carry crop insurance for the crop you are storing.
“It is really important for the farmers because if you are leaving your hay outside you are losing up to 30% of that value of that commodity just from weather. So putting it in if you are going to sell it, it is going to be more valuable. If you are going to feed (to livestock) it is going to have a much better quality, because you are not losing that weather damage. This is going to be a tremendous program for all of Southeastern Ohio,” tells Huston.
Interested farmers should contact the Farm Service Agency office to obtain a loan packet. Or for more information go to this website:
Katie Jeffries
KJeffries@whizmediagroup.com
