Iowa COVID-19 Agricultural Relief Programs

Seal of Iowa

Governor Kim Reynolds recently announced the allocation of approximately $100 million of Federal CARES Act relief funds to several different agricultural programs. You may be eligible to receive funding from one of these programs:

 

  1. The “Iowa Livestock Producer Relief Fund”

OR

  1. The “Iowa Beginning Farmer Debt Relief Fund”

 

Here are some details that you need to know about the “Iowa Livestock Producer Relief Fund”, the application process, and eligibility requirements:

  • The application period is from 08/31/2020 – 09/14/2020.
  • The application must be completed online at the following website: https://www.iowaeconomicdevelopment.com/Business/ag-relief
  • There are 3 different programs on this website, make sure you choose the correct one.
  • You may be eligible for a grant of up to $10,000. The amount will depend on program demand, so it may be less than $10,000, but it will not be more than $10,000.
  • You must have had a total of 40 or more “animal units” of any of the following livestock types on any one day between 01/01/2020 – 03/31/2020: Beef cattle, chickens, dairy cattle, fish, sheep, swine, or turkeys.
  • You must have experienced an involuntary loss of income after 03/17/2020 due to the COVID-19 public health emergency.
  • Contract growers/custom feeders may be eligible, please refer to the website for more information regarding contract growers/custom feeders.
  • Two-thirds or more of your annual gross income must come from farming.
  • Your three-year average adjusted gross income must be $750,000 or less.

 

Here are some details that you need to know about the “Iowa Beginning Farmer Debt Relief Fund”, the application process, and eligibility requirements:

  • The application period started on 08/31/2020, and will remain open until all funds are exhausted.
  • Based on some of the application requirements outlined below, We recommend you contact your lender before starting this application. You will need to provide your lender’s name, phone number, and email address when completing the application.
  • The application must be completed online at the following website: https://www.iowaeconomicdevelopment.com/Business/ag-relief
  • There are 3 different programs on this website, make sure you choose the correct one.
  • You may be eligible to receive up to $10,000 that can be applied towards a farming loan payment.
  • For individual applicants, your net worth (including spouse and minor children), must be less than $682,000.
  • For entity applicants, the net worth of all owners (including spouses and minor children) must be less than $1,364,000. And each owner (including spouses and minor children) must have a net worth of less than $682,000.
  • Your lender will be required to submit a financial statement to verify net worth.
  • You must have long-term agricultural debt.
  • Your farm must be located in Iowa.
  • Your debt must have an original term or amortization greater than or equal to 10 years.
  • You must have experienced an involuntary loss of income after 03/17/2020, due to the COVID-19 public health emergency.
  • Payments for approved beginning farmers will be made to the lender and applied directly towards your loan payment. If you’ve already made your 2020 loan payments, then you will be reimbursed for those payments, up to $10,000.

 

NOTE: If you feel that you qualify for both the “Iowa Livestock Producer Relief Fund” and the “Iowa Beginning Farmer Debt Relief Fund”, please note that you can only complete an application for one of these programs, you much choose which one. Please contact us for guidance on which program to choose.

 

Below are some FAQ’s for each program. We recommend you review these before applying.

FAQ – IA Livestock Producer Relief Fund

FAQ – IA Beginning Farmer Debt Relief Fund

 

Please call our office or contact us with any questions you have.