New Legislation Could Help Fruit Farmers - Northern Michigan's News Leader

New Legislation Could Help Fruit Farmers

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There could be some relief for our area fruit farmers.

New legislation in Lansing could provide low-interest loans for fruit growers whose crops were severely damaged by the rollercoaster weather this spring.

The bill was introduced yesterday by Representative Ray Franz of Onekama.

Under the new bill, processors could receive loans between $400,000 and $1 million.

The loans would have just 1% interest.

Private lenders would make the loans, but the state would cover administrative costs equaling 5% of the loan principal.

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