Maryland Agricultural & Resource-Based Industry Development Corporation
logo
[   Home  |  About Us  |   Business Assistance Programs  |   Rural Land Preservation Programs  |
Application Forms  |   Resources  |   Archives  |   Directions]

2007 Farm Drought and Weather Event Recovery Assistance Loan Fund

To apply, see the Applications page.


The 2007 Farm Drought and Weather Event Recovery Assistance Loan Fund was established to provide special assistance to producers and other rural businesses to help manage drought or weather-related lost production and lost income challenges. This program aims to help agricultural businesses maintain viability and recover from production and revenue losses due to the 2007 drought or other weather-related event. Operating loans are available to producers that have suffered significant crop losses, livestock and fee losses, or dairy losses. Applicants may apply for this program to pay all or part of production costs associated with the adverse weather-related event and pay essential family living expenses.

Commercial Lender Participation: Required (Lender must provide a letter of referral.)
Maximum Loan Amount: $75,000 ($150,000 with real estate used as collateral security.)
Loan Terms: Up to 5 years depending on the amount borrowed (up to 7 years if land is used as collateral security). Interest-only charges will be payable during the balance of 2007 and 2008. Principal and interest payments will begin January 1, 2009.
MARBIDCO Interest Rate: 5% (APR)
Loan Origination Fee: Waived

Business Assistance Programs

Business Assistance Programs - Overview

Maryland Resource-Based Industry Financing Fund Loans (MRBIFL)

Rural Business Energy Efficiency Loan Fund Program (RBEEL)

The MARBIDCO Rural Business Working Capital Fund Loans (RBWCL)

The Maryland Farm and Producer Viability Program (MFPVP)

2007 Farm Drought and Weather Event Recovery Assistance Loan Fund

 

Copyright 2006. All rights reserved.