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<br /> <br /> <br />DEPARTMENT OF AGRICULTURE <br /> <br />DAVID Y. IGE <br />GOVERNOR <br /> <br />SCOTT ENRIGHT <br />CHAIRPERSON <br />HAWAII BOARD OF AGRICULTURE <br /> <br />FOR IMMEDIATE RELEASE <br />NR18-06 <br />May 29, 2018 <br /> <br />HAWAII BOARD OF AGRICULTURE APPROVES EMERGENCY DISASTER LOAN <br />PROGRAM FOR KAUAI FLOOD AND KILAUEA ERUPTION <br />HONOLULU – The Hawaii Board of Agriculture (Board) today approved parameters for emergency low- <br />interest agricultural loans for farmers suffering damage due to the heavy rain and flooding on Kauai and <br />Oahu in April and the current eruption phase at Kilauea volcano on Hawaii Island. <br />The Board approved the emergency loan program which offers disaster-related loans of up to $500,000 <br />at an interest rate of three percent, with loan terms to be determined on a case-by-case basis. The <br />Hawaii Department of Agriculture (HDOA) Agricultural Loan Division will process loan applications <br />based on past farm production, projected cash flow and disaster recovery plans. Three-year residency <br />and other requirements usually necessary for agricultural loans will also be waived. Loan applications <br />will be accepted until June 2019. <br />In addition to the disaster loan program, HDOA also offers microloans of up to $25,000 that involves <br />less paperwork and offers swifter processing. Loan officers will also work with those with existing <br />agricultural loans on loan payment deferrals. The Agricultural Loan Division may be contacted at <br />808-973-9460. <br />“It’s painful to see all the damage to our agricultural crops and businesses caused by the recent natural <br />disasters,” said Gov. David Ige. “The Board’s approval ensures that funding is available to support <br />agricultural recovery efforts.” <br />-more- <br /> <br />