Farming Loans

By  | 

The last time WCTV spoke with Farmer Blake Stanaland, his farms hadn't seen rain in months, and his corn crops were drying up.

Blake Stanaland says, "Its 90 to 95 bushels off per acre, off from average, it's up to this point been doing 40 to 45 bushels per acre, and that's real hard to pay the bills with."

To take some burden off farmers, the U.S. Department of Agriculture declared 155 counties in the state of Georgia drought disaster areas. As a result, Governor Sonny Perdue has given farmers access to low interest loans to compensate for lost crops.

Stanaland has already harvested his corn crops, but unfortunately could only get about half of what he was expecting, and, even though Governor Sonny Perdue is giving him some options, he's hoping he won't have to take it. "It terrifies me to borrow more money, so I try not to unless I have to, but at least it'll be at a low interest rate if we have to go that route," he says.

Nelson Butler is friends with many farmers and says, "Some people are hurting and for those who are hurting, a low interest loan sounds like a good idea."

Farmers say in order to qualify for the low interest loans, they must show at least a 30% loss of crops, which Stanaland says will not be a problem.

The biggest worry farmers say they have is paying back the loans, fearing it will put them in the same position they are in now.