Salt Lake Metropolis — The Utah Division of Agriculture and Meals (UDAF) has acquired funds for an Emergency Disaster Aid (EDR) mortgage program To assist Utah’s farmers and ranchers Who’ve been negatively affected by The acute drought circumstances.
“Utah’s current extreme and prolonged drought circumstances have been devastating for our agricultural producers,” Gov. Cox says. “These farmers and ranchers want exact options and We’re dedicated To serving to in every method We will. Authorizing money from Go Utah will current needed assist to People who exactly want it.”
In an effort To assist producers primarytain in enterprise, the Governor’s Office of Financial Alternative (Go Utah) is offering $5,000,000 from The economic Help Account to fund an EDR mortgage program that Shall be administered by the Utah Division of Agriculture and Meals beneath their Agriculture Useful resource Enchancment Loan (ARDL) Program. Eligible agricultural producers can apply for EDR mortgages of As a lot as $100,000 To assist reimburse monetary and completely different losses They’ve expert As a Outcome of of drought, such feed prices or Lack of livestock. The seven-yr mortgages Shall be curiosity-free for The primary two yrs And Will not require collateral from the agricultural producer.
“This yr has hit Utah’s farmers and ranchers exhausting,” says Craig Buttars, UDAF Commissioner. “We are hopeful that these mortgages Shall be a monetary bridge Which will permit producers To primarytain their operations going So as that they will proceed To revenue not solely Utah’s rural economies however all Utahns who take pleasure in native agricultural merchandise. I would like to thank Governor Cox and his group For his or her assist in making this relief potential.”
Purposes Shall be accepted September 13, 2021 – April 1, 2022 or till funds are depleted. To study extra Regarding the EDR mortgages and To use, go to ag.utah.gov/emergency-disaster-relief-mortgage-program.