New York Making Low Interest Loans Available for Agriculture
New York is at least acknowledging the challenging times we are in for Agriculture. Governor Cuomo announced an Agricultural Loan Fund program will make $10 million available through low interest loans for small owners/operators.
The money will be distributed through local lenders in amounts ranging from 50-thousand to 200-thousand. The money can be used for purchasing or making improvements to land and buildings, machinery and equipment or for working capital. Loan inquiries should be made directly to the local source which varies by region. In the Mohawk Valley it's Mohawk Valley Rehabilitation Corporation, in the North Country it's the Development Authority of the North Country.
The New York Business Development Corporation will also handle loan distributions statewide. For more information contact the New York Job Development Authority at 212-803-3219. You can check out the Governor's press release at his website.