Macon, Ga – The Georgia Cotton Commission reminds growers about the opening of the SAFETY 24 Hurricane Helene Relief Loan Program.
This low-interest, emergency loan program, which was announced by Georgia Agriculture Commissioner Tyler Harper and Georgia Development Authority Executive Director Thomas G. Carter, will provide Georgia farmers essential funds to recover from hurricane damage, replace lost income and continue farm operations until additional federal aid is delivered.
“Help is on the way for Georgia farmers impacted by Hurricane Helene. Our team at the Georgia Department of Agriculture has been working around the clock, in coordination with the Georgia Development Authority, to get the SAFETY 24 Hurricane Relief Loan Program online as quickly as possible so we can deliver these much-need funds to impacted farmers,” said Georgia Agriculture Commissioner Tyler Harper. “The SAFETY 24 program is meant to provide Georgia farm families with the capital they need to keep operating while we continue pushing Congress to deliver additional federal relief, and I strongly encourage all impacted farmers to apply so we can begin to build back strong than before.”
Farm operators who suffered losses from Hurricane Helene and reside in a FEMA designated disaster area or adjacent county are eligible to apply for up to $500,000 at a 2% fixed interest rate. This special loan program will be administered on a first come, first serve basis. Eligible uses of these funds include income replacement, operating capital, repairing or replacing damaged farm structures, repairing or replacing damaged equipment and the purchase of machinery or equipment necessary to recover from hurricane damage.
How to Apply:
- The application form and additional details can be found online at https://www.gdaonline.com/hurricane-helene-loan-program/
- Applications can be submitted online via email or via regular mail.
- Online applications should be sent to anita@gdaonline.com
- Printed applications should be sent to the below address:
Georgia Development Authority
1890 Highway 130
Monroe, Ga 39655
- Applications must include the following documents to be considered:
- SAFETY 24 Application Form
- SAFETY 24 Product Loss Verification
- This form is to be completed by your crop insurance agent, UGA Extension Service, Farm Service Agency, or a loan specialist.
- Operating Credit Continuity Agreement
- An agreement must be obtained from applicants’ primary operating credit provider stating that the primary operating credit provider will continue financing operating capital for the applicant, after the SAFETY 24 loan closes, for the next year of operation. If the operation does not require credit for operating capital and therefore a letter from a primary operating credit provider is not obtainable, a letter of intent from an entity the farm has a contractual relationship with stating that the entity will continue the contractual relationship with the farm will suffice.
Damage Assessments
Preliminary assessments from University of Georgia estimate the economic impact of Hurricane Helene on agriculture – Georgia’s No. 1 industry – at $6.46 billion, including $3.2 billion in direct losses to Georgia farmers. It was announced that between 500,000 and 600,000 bales of cotton were lost, equating to between $207 million and $220 million in economic losses.
“Georgia’s farmers have experienced unprecedented losses as a result of Hurricane Helene and the storms that followed it, and we’re taking decisive action on the state level to provide relief for them as quickly as possible,” said Governor Brian Kemp. “While we continue to call on Congress to take quick action in providing block grants that will further provide relief, we joined together with our partners in the legislature, Department of Agriculture, and Georgia Development Authority to move quickly in infusing this program with new funding. This is a significant step on the road to recovery, but it will not be the last. We will continue fighting for the hardworking men and women of our No. 1 industry and all Georgians impacted by Helene.”