Governor Cuomo Announces Launch of Agriculture Loan Fund Program

New Loan Program to Help New York State Small Agribusinesses Expand and Grow; $10 Million in Funding Will Be Available Through Third Party Lenders

February 7, 2018

Governor Andrew M. Cuomo today announced that the New York Job Development Authority will launch an Agriculture Loan Fund Program to address and help alleviate the economic barriers faced by many New York State small agribusiness owners. JDA has provided $10 million in funding, which will be distributed as low interest loans by third party lenders.

"Agriculture continues to be a major part of New York's economy, and with this funding we are providing the resources necessary to strengthen and grow this industry," Governor Cuomo said. "This program will knock down barriers and give new agribusiness owners the support they need to thrive, and grow in New York."

"New York is committed to continuing to support and grow its agriculture industry. This program will help the tens of thousands of small business owners who feed New York families every day," Lieutenant Governor Kathy Hochul said. "The State is proud to promote its hard working farmers through Taste NY and new marketing programs to increase sales and expand resources available to our small agribusiness owners."

Read the full press release here.