The program may fund up to $300 million of low-interest loans for farmers who have been affected by heavy crop losses last year. Photo by iStock
A financial institution is aiding its customers who have suffered from economic hardship.
GreenStone Farm Credit Services is partnering with the state of Michigan to help facilitate the Michigan Agricultural Disaster Loan Origination Program. The program may fund up to $300 million of low-interest loans for farmers who have been affected by heavy crop losses last year.
The deadline for the disaster loan applications is May 31.
Qualifying farmers will be offered a low-interest, seven-year term loan. GreenStone members can benefit from the low rates offer and its loan interest rate conversion option, which does not require a full refinance process.
GreenStone also is working with customers who are impacted by COVID-19 to develop individualized financial solutions, including short-term payment adjustments, among other things.