The Michigan House and Rep. Rodney Wakeman today approved a plan to help farmers whose crops have been delayed or damaged by this spring’s record-setting rain.

The plan would help private lenders provide low-interest loans to qualified farmers at no financial risk to the state.

“Amid one of the worst growing seasons in history, I have personally heard from farmers in my district that this program would provide much-needed financial support to them during this difficult year,” said Wakeman, of Saginaw Township. “Record rainfall has left Michigan’s farmers unable to plant and facing serious financial ramifications they could not avoid. This plan does the right thing to help stabilize our farm communities.”

Michigan has had very few days suitable for field work this spring. As a result, only about 63 percent of corn seeds and 43 percent of soybean seeds have been planted, which means yields will be low. Many farmers will be facing financial trouble as this crop season continues.

House Bill 4234 provides $15 million to help private lenders run the loan program and keep interest rates low for farmers. The state does not provide the loans, so there is no financial risk or liability to the state with this program.

Similar low-interest loan programs were approved for Michigan farmers in 2002 and 2012.