Minnesota Makes Disaster Recovery Loans Available to Farmers

Assistance from the Minnesota Department of Agriculture’s (MDA) Rural Finance Authority (RFA) will be available to help farmers whose operations are affected by the COVID-19 pandemic. A $330 million Minnesota COVID-19 relief bill just signed into law contains provisions expanding the use of funding for the RFA to open up the Disaster Recovery Loan Program for loss of revenue due to human contagious disease. Governor Tim Walz recently signed a bill into law allocating $50 million to the RFA, replenishing the funds available to offer Minnesota farmers affordable financing and terms and conditions not available from traditional lenders.