“The New York State Farm Worker Housing loan program has been a tremendous tool for farms seeking to build or improve housing for their farm laborers,” said Mike Haycook, Farm Credit East vice president and coordinator of the NYS FWH program.
The FWH loan program is administered by Farm Credit East in partnership with New York State Homes and Community Renewal (HCR), and provides no-interest loans to help finance improvement of existing housing or the construction/purchase of new housing for farm workers.
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.
To apply for a loan, contact your local Farm Credit East office (see FarmCreditEast.com for office locations). You can also view a video, featuring Mike Haycook, on FarmCreditEast.com to learn more about this program. Agricultural producers may apply at any time; however, funds will be available on a first-come, first-serve basis.