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Operating loan plan gains support from ag committee
The Governor's Commission on Agriculture backed a one year program to help about 2,200 farmers obtain operating loans for fertilizer seed fuel pesticides tillage services or crop insurance. The plan guarantees 90 percent of loans up to 20 000 at 9 percent interest, financed by the state through a 10 million pool to back loans totaling up to 50 million with anticipated 5 percent default. Lenders would be repaid principal in default but not interest, and funds would be dispensed to suppliers via vouchers.
MENTIONED IN THIS ARTICLE
Governor’s Commission On Agriculture
Commission
Gervase Hephner
D-Chilton
Mark Lewis
D-Eau Claire
The
Rep
Hephner
Larry Carson
Lancaster State Bank
Agriculture Crisis Forum
Wisconsin Bank Association
Wisconsin