572162 - Disaster Recovery Farm Interest Program
Funding Opportunity Details

Disaster Recovery Farm Interest Program

Final Application Deadline: Oct 31, 2024 11:59 PM

Description

• Description

  Program Overview	The Disaster Recovery Farm Interest Program (DRFIP) provides financial assistance to agricultural asset owners and producers who are recovering from property damage and losses caused by recent severe weather events. DRFIP will reimburse one year of interest paid on Eligible Loans executed or amended after the earliest incident date of the federal disaster declaration for the county where the damage occurred.
  Application Window	Applications will be accepted through September 30, 2024, subject to funding availability. Assistance awards will be made to Eligible Applicants with Eligible Loans on a rolling basis.
  Maximum Award	One year of scheduled interest owed on eligible loans, up to $50,000. Once assistance is approved, a reimbursement claim may be submitted when the Eligible Loan has been outstanding for at least one year from the execution or amendment date.
  Eligible Applicants	Assistance is available to Iowa-domiciled agricultural producers who: · Are citizens or permanent residents of the United States. · Own a farm or operate a farming operation located in an Iowa county declared by the federal government as a primary disaster area. A current list of Iowa counties where a disaster has been declared can be found at disasterassistance.gov under the List of Disasters section. · Have suffered a physical loss to livestock, livestock products, real estate, or equipment used in the production of agricultural products, for which an insurance claim has been submitted and approved.
  Eligible Loans	Loans that have been executed or amended after the earliest incident date of the federal disaster declaration for your county. Incident dates for each federal disaster declaration can be found at disasterassistance.gov.
  Required Documentation	Applicants must submit the following supporting documentation: · For corporations and other entities, a current IRS Form W-9. · Insurance claim approval document (e.g., inspection report). · Executed final loan documents dated after the initial incident date of the federal disaster declaration for your county, including amortization schedule. Incident dates for each federal disaster declaration can be found at disasterassistance.gov. · USDA FSA Form 156 for the current crop year (2024) for all affected farms or tracts on which the damaged property is used and or located. The Applicant’s name must appear in the Owners, Operator Name, and/or Other Producers field. If you need assistance, please contact your local FSA office.
  Contact	For questions, please email farmerinterest@iowafinance.com.

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