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Zero percent interest disaster loans for Minnesota farmers affected by floods

Financial assistance is available for Minnesota farmers affected by recent floods.

The Minnesota Rural Finance Authority (RFA) has lowered its interest rate on the Disaster Loan Program to zero percent to help cover costs to replace and repair items lost or damaged that are not covered by insurance.

For agricultural purposes, the loans can be used to replace crop inputs, feed, livestock and farm structures.

The RFA participation is limited to 45 percent of the principal amount up to a maximum of $200,000 dollars.

Loans are offered in 23 counties declared disaster areas by the Governor, and RFA partners with local ag lenders for financing repairs.

Counties considered to be disasters from flooding beginning September 21st are: Anoka, Blue Earth, Cottonwood, Dodge, Faribault, Freeborn, Goodhue, Hennepin, Houston, Le Sueur, Mower, Nicollet, Olmstead, Ramsey, Rice, Scott, Sibley, Steele, Wabasha, Waseca, Washington, and Winona counties.