The Hawai‘i Department of Agriculture (HDOA) will be establishing an emergency agricultural loan program to assist Maui and Hawai‘i Island farmers and ranchers suffering damage from the high winds and wildfires this week. The Emergency Proclamation by Acting Gov. Sylvia Luke on Aug. 8, 2023 allows the Hawai‘i Board of Agriculture (Board) to activate an emergency loan program. HDOA will be submitting proposed loan parameters for approval at the Board’s meeting later this month, which would determine the maximum loan amount and interest rate.
In the meantime, agricultural operations impacted by the wildfires may contact the HDOA’s Agricultural Loan Program on O‘ahu at (808) 973-9458 for more information and to begin the process of applying for low-interest agricultural emergency loans. Loan applicants would need to provide estimates of losses and should document the damage with photos.
“While damage estimates may take some time to fully assess, we urge agricultural operations impacted by the wildfires to contact us now if they believe they may need financial assistance,” said Sharon Hurd, chairperson of the Board. “We are also in touch with the U.S. Farm Service Agency which is assisting in damage assessments to secure additional federal assistance for this disaster.”
For agribusinesses needing loans of $50,000 or less, micro-loans involving less paperwork and swifter processing are also available.
HDOA is currently administering an emergency loan program for farmers and ranchers impacted by the overpopulation of axis deer.
Source : hawaii.gov