The ongoing drought is still causing reservoirs and creeks across Virginia to shrink, and farmers have taken a big hit this summer. There are low-interest loans available from the federal government to help business owners.
Small businesses and non-profits can apply for low-interest loans through the federal government. The U.S. Small Business Administration announced this assistance this week for business owners in 49 counties and cities across Virginia who lost crops or income as a result of the drought, beginning in March. Some bordering counties in West Virginia, North Carolina and Tennessee are also eligible.
Additional loans are also available through the US Department of Agriculture’s Farm Service Agency. The USDA has now declared that all counties in Virginia and many cities were impacted by this year’s drought.
On top of that, major freezes this spring also killed many fruit crops, and a disaster declaration through the USDA provides additional help to affected farmers.
All of this assistance is through loans that must be repaid, and farmers have eight months to apply for the loans.
The FSA also offers assistance to help farmers with pasture damage, crop failure or difficulty transporting crops as a result of a disaster declaration. To learn more about the programs available, contact a local extension service agent and a Farm Service Agency office.
