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Agricultural Facilities Disaster Loans

I. Objectives

To assist agricultural property owners who have suffered property damage through natural disasters to repair or replace structures and to return to their normal work routines as quickly as possible.

Agricultural Facilities Disaster loans, administered by the North Carolina Agricultural Finance Authority, are designed to provide loans for damages often not covered by federal disaster funds.


II. Who May Receive Loans

Owners of farm structures at time of actual damage due to natural disaster which are determined to be qualifying losses under one of the following categories:

  • Governor's designation as disaster area.
  • Other cases of more localized natural disasters for which losses can be adequately documented (photographs, etc.)


III. Eligibility Requirements

Must be an individual or entity which:

  • Is located in North Carolina.
  • Based on physical appearance and available financial records, appears to be a legitimate farming operation.
  • Has losses not compensated by insurance or payments from other agencies.
  • Has losses exceeding $1,000.00.


IV. Loan Rates and Terms
Maximum term of 10 years. *Fixed interest rate for life of loan at 1.30 percent. (*valid through 12-31-14)


V. Loan Limits

Maximum loans of $40,000.00 for repairs to essential farm structures. Minimum loans will be $1,000.00.


VI. Application Fee


VII. Loan Processing Fees
  • Direct costs for credit report and recording fees must be paid by borrower.
  • Loan processing fee of one (1) percent of face value of loan.


VIII. Security for Loans
NCAFA's loans will be secured by a junior lien on real estate. The loan plus any prior debts on the security should not exceed estimated value of property. Security will generally consist of real estate and fixtures only. A Promissory Note and Deed of Trust will be executed in favor of NCAFA.


NC Agricultural Finance Authority
Address: 1101 Spring Forest Rd., Suite 150, Raleigh NC, 27615-5843
Phone:919-664-1740  FAX:919-790-3954

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