Emergency Agricultural Loan for Those Impacted By COVID-19 | State of Hawaii - Dept of Agriculture - Emergency Agricultural Loan Program

Eligible farmers may now apply for emergency loans of up to $150,000 at 3 percent interest. Loans of $100,000 or less will not require credit denials from other financial institutions. The [Hawai'i Board of Agriculture] also waived the three-year residency requirements normally required for agricultural loans, and authorized state loan officers to modify or waive collateral requirements, as deemed necessary, on a case-by-case basis. Loan applications for emergency loans relating to COVID-19 will be accepted until Dec. 31, 2020. Besides emergency loans, HDOA also offers micro-loans for those needing loans of $25,000 or less. Micro-loans involve less paperwork and swifter processing. In addition, current agricultural loan holders who are suffering financially due to COVID-19 may also request payment relief or forbearance.