LANSING, Mich. (AP) — The Michigan Legislature is close to adding $15 million to a low-interest loan program to help farmers who are grappling with crop losses associated with historic rainfall.
The bill won approval Thursday from the Senate, and the House was expected to quickly send it to Gov. Gretchen Whitmer for her expected signature.
The legislation would appropriate $15 million into the Agricultural Disaster Loan Origination Program. Growers, processors and handlers can get a 1% interest rate on loans.
Republican Sen. Dan Lauwers of St. Clair County’s Brockway Township says the loans give farmers an option for bridging revenue losses.