For Farmers and Ranchers
Financial Assistance
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Tax Information
Managing Your Money During a Disaster
Other Useful Financial Information
Financial assistance for flood recovery is available through a wide variety of state and federal agencies and nonprofit organizations.
Minnesota Farm Advocates
Farm Advocates provide one-on-one assistance for Minnesota farmers, small businesses and community residents who face crisis caused by either a natural disaster or financial problems. They are trained and experienced in disaster programs, agricultural lending practices, mediation, lender negotiation, farm programs, crisis counseling (outreach), and recognizing the need for legal and social services.
For more information, contact: Jan Boll at (218) 268-4472 or Bruce Lubitz at (218) 346-4866
Rural Finance Authority
- Ag Improvement Loan Program
This loan program can provide 4.5 percent financing for buildings that have been lost to flooding and are being replaced with new buildings. A borrower must not have a total net worth exceeding $409,000. A local lender will originate the loan. The RFA participation is 45 percent of the loan principal up to a maximum of $200,000.
- Restructure II Loan Program
Farmers can use this loan program to refinance their debt at 5.25% which will provide them with funds to repair flood damage of an agricultural nature. Under this program, the RFA works with a local lender to help farmers who have a debt-to-asset ratio of 50% or more. Borrower net worth cannot exceed $750,000. The RFA will participate on 45 percent of the principal up to $225,000.
Contact the RFA at (651) 201-6004.
Tax Information
State Tax Extended Deadlines
Managing Your Money During a Disaster
Handling the Basics (pdf)
Help If You're Falling Behind on Your Mortgage (pdf)
Other Useful Financial Information
Federal Farm Service Agency
National Resource Conservation Service
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