The state Industrial Commission has okayed two loan programs designed to help farmers dealing with some things beyond their control.
Governor Kelly Armstrong chairs the Commission. He said it has been a tough year for agriculture.
"Commodity prices are down. Input costs are up," Armstrong told reporters. "High winds and tornadoes destroyed storage and hurt crops across the state. Market uncertainties due to trade disruptions and unjustified retaliatory tariffs."
Armstrong said ag is still the foundation of every community in the state.
"In these uncertain times, we need to help stabilize the foundation the best we can," Armstrong said.
One program is called the Farm Stability Loan Program. The other is called the Grain Inventory Loan Program. The state owned Bank will provide the financing through local banks. The bank set aside $300 million for the stability program, and $100 million for the grain inventory program.
"There is so much stress out there, with the unknowns that exist right now," said Agriculture Commissioner Doug Goehring. "We're not really sure what's going to happen with exports."
The loan programs will be available starting December 9th.
