Florida Agriculture Commissioner Wilton Simpson Tuesday launched a first-of-its-kind revolving loan program for farmers, ranchers and growers who suffered losses when Hurricane Idalia struck the Big Bend last August. 

Idalia came ashore at Keaton Beach in August with 125 mph winds, blazing a path of destruction that extended to Jefferson County in north Florida, south to Pasco County and east to Columbia County. 

Simpson said damages to crops, livestock and agriculture infrastructure totaled more than $447 million, and that has produced a revenue crunch that threatens future crops and the existence of some farms and ranches. 

“There were a lot of chicken farms that were destroyed during Idalia and there’s no way they can go to our traditional banking organizations in most cases and rebuild those buildings,” Simpson said. 

A pool of $112 million was created during a November special session to fund the Agriculture and Aquaculture Producers Natural Disaster Recovery Loan Program and the Silviculture Recovery Program, specifically for timber growers.

Taylor County, where Idalia came ashore, is the heart of Florida’s timber industry, with more than 500,000 acres of forest. 

Sen. Corey Simon, R-Tallahassee, represents seven counties that were in Idalia’s path. He was at Simpson’s side when the commissioner announced the application procedure to qualify for the low-interest or interest-free loans. 

The damage Idalia did, said Simon, required Florida “to do something on a grand scale."

“And that’s what we did – a revolving loan program that’s performing from now until forever,” added Simpson. 

Loan payments are returned to the pool and will be used to fund future loans related to natural disasters.  

Sen. Ben Albritton, R-Wauchula, said the program is modeled after the Florida Clean Water State Revolving Fund for local government projects. 

It's unclear whether the program is the first state-financed agricultural revolving loan program in the nation. 

“But it is something that’s going to be perpetual,” said Jeb Smith of the Florida Farm Bureau. 

Smith’s enthusiasm for the program was such that he didn’t wait to be introduced to start speaking. 

“This isn’t a handout. This is a hand up anytime disaster strikes,” Smith said. 

Source - https://eu.tallahassee.com