Audio

Audio from Michigan State Senator Dan Lauwers

August 13, 2019
1:00
"I look forward to continued conversations with agricultural stakeholders and experts on how to address these challenges." A bill signed into law in June appropriated $15 million into the Agricultural Disaster Loan Origination Program, which will help ensure Michigan farmers will have the opportunity to apply for loans to cover their expenses. The program is a partnership between farmers and processors, private lenders, and the state that provides a 1% interest rate on loans to help support the agriculture industry through loss of crops due to weather-related disasters. Lauwers said Michigan's farmers are coping with a difficult growing season with record rainfall hindering planting; only 68% of the corn crop and 70% of the soybean crop planned was planted. In addition, the industry has faced global economic pressures and financial stress, the lawmaker said.