Farm Credit East Releases Short Video on the NYS Farm Worker Housing Loan Program
POTSDAM, NEW YORK, MONDAY, JULY 10, 2017 — The New York State Farm Worker Housing Loan Program (FWH) is a special initiative for New York producers to improve existing housing or to construct/purchase new housing for farm workers. Farm Credit East recently released a short video about this program featuring Mike Haycook, Farm Credit East vice president and coordinator of the NYS FWH program.
“The New York State Farm Worker Housing loan program is a great partnership between the state of New York and Farm Credit East,” said Mike Haycook. “It helps meet the needs of agricultural producers to provide adequate housing for their farm labor.”
“It is also a revolving loan program, so every year as payments are made back into the program, those funds become available for other farmers to use in future years to do additional improvements or purchases,” continued Haycook.
Agricultural producers may apply to borrow up to $100,000 per year for farm worker housing projects. An upfront, one-time fee is applied to cover administrative costs. There are no other fees or interest applied for the term of the loan. The loans are repaid in equal, annual payments of principal. The term of the loan may not exceed ten years.
The FWH loan program is administered by Farm Credit East in partnership with New York State Homes and Community Renewal (HCR). To view this video, click here. To apply for a loan, contact your local Farm Credit East office. Loans are available to New York agricultural producers, including fruit, vegetable, greenhouse, nursery, equine and dairy operations, and producers may apply at any time; however, funds are available on a first-come, first-serve basis.