The Utah Department of Agriculture and Food (UDAF) has received funds for an Emergency Disaster Relief (EDR) loan program to aid Utah’s farmers and ranchers who have been negatively affected by the extreme drought conditions.
“Utah’s current extreme and prolonged drought conditions have been devastating for our agricultural producers,” Gov. Cox said. “These farmers and ranchers need real solutions and we are committed to helping in every way we can. Authorizing money from Go Utah will provide necessary aid to those who truly need it.”
In an effort to help producers stay in business, the Governor’s Office of Economic Opportunity (Go Utah) is providing $5,000,000 from the Industrial Assistance Account to fund an EDR loan program that will be administered by the Utah Department of Agriculture and Food under their Agriculture Resource Development Loan (ARDL) Program. Eligible agricultural producers can apply for EDR loans of up to $100,000 to help reimburse financial and other losses they have experienced due to the drought, such feed costs or loss of livestock. The seven year loans will be interest-free for the first two years and will not require collateral from the agricultural producer.
“This year has hit Utah’s farmers and ranchers hard,” said Craig Buttars, UDAF Commissioner. “We are hopeful that these loans will be a financial bridge that will allow producers to keep their operations going so that they will continue to benefit not only Utah’s rural economies but all Utahns who enjoy local agricultural products. I would like to thank Governor Cox and his team for their support in making this relief possible.”
Applications will be accepted September 13, 2021 – April 1, 2022 or until funds are depleted. To learn more about the EDR loans and to apply, click here.