October 29, 2024
AgGeorgia Farm Credit’s mission is to improve the lives of Georgia’s farmers, families, and our rural communities, and we are committed to leaning into this mission as our members recover from Hurricane Helene. Effective immediately, the following programs have been enacted to assist AgGeorgia members. Additional forms of assistance may be added as we continue to assess needs among our portfolio and work with our staff and directors to create meaningful solutions.
• Emergency Loan Program - Loans of up to $100,000 to existing members for storm-related needs. Loans will be structured with a variable rate and 12 month maturity, priced at Prime minus 1%, with no fees and minimal underwriting requirements.
• Payment Deferrals/Extensions - Installment payments due in September, October, and/or November may be deferred for up to 90 days. Loans scheduled to mature in these months are also eligible for a 90-day extension.
• Foreclosure Moratorium - In place through year end, AgGeorgia is committed to working with borrowers to assure that farms aren’t lost due to cash flow issues created by Helene.
AgGeorgia members interested in any of the above programs should contact their loan officer or servicing branch.