Rep. Mark Huizenga announced help is on the way for Michigan farmers whose crops were devastated by record rains this spring.
House Bill 4234 was signed into law by the governor this week. The bill provides $15 million to help private lenders provide low-interest loans to qualified farmers. The state does not provide the loans, so there is no financial risk or liability to the state with this program.
“This plan provides real relief at a time of real crisis for an industry vitally important to all of Michigan,” said Huizenga, of Walker. “This season has been devastating to farmers, and this loan program will help many survive it.”
Michigan had very few days suitable for field work this spring. From May 2018 to May 2019, this year was the wettest 12-month period on record. As a result, only about 63 percent of corn seeds and 43 percent of soybean seeds were planted as of June 12, which means yields will be low. Many farmers will be facing financial trouble as this crop season continues.
Similar low-interest loan programs were approved for Michigan farmers in 2002 and 2012.