USDA Disaster Declarations and Loans for Michigan Counties

In November 2019, the USDA formally approved 43 Michigan counties as “primary” natural disaster areas, due to losses caused by excessive rain, flooding, flash flooding, and abnormally cold temperatures that occurred from March 1 and continued through fall harvest. According to a letter from USDA Secretary Sonny Perdue, the disaster assistance will consist of FSA emergency loans. “Farmers in eligible counties have eight months from the date of the disaster declaration to apply for emergency loans.” 

In other recent news, the U.S. Small Business Administration (SBA) has announced Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in Michigan as a result of the freeze from Jan. 1 through April 30, 2019. To read more about the eligible counties, visit these articles from Michigan Farm News: http://bit.ly/30KvKht and http://bit.ly/30ONNDx.

Succession Planning Covered at Michigan Pork Conference

February 20, 2020

Foster Swift business & tax attorney Michael C. Zahrt will be presenting on “Succession Planning for the Family Farm” at the 2020 Michigan Pork Conference at the Lansing Center on Thursday, February 20. The presentation will cover the four phases of farm succession planning including setting your family’s goals and coordinating your succession plan with your estate plan.

Zahrt practices from the firm’s Grand Rapids office in the areas of agri-business planning, business succession & estate planning and tax law. Registration is available online.