SAFETY 24 Loan Program
Hurricane Helene
Application Deadline: Dec. 31 at 5pm
Complete the form below to begin the application process:
SAFETY 24 Application………… ONLY persons may apply. (No estates. No publicly held corporations. If you farm as an LLC, INC or a partnership you and your partner/s should apply in your name/s.)
SAFETY 24 Production Loss Verification ……..This form is to be COMPLETED and SIGNED by one of the following: Crop or Hazard Insurance Agent, Extension Service Agent, or GDA Loan Specialist.
Operating Credit Continuity Agreement ……… An agreement must be obtained from applicants’ primary operating credit provider stating that the primary operating credit provider will continue financing operating capital for the applicant, after the SAFETY 24 loan closes, for the next year of operation.
After legibly completing the application package, please have it postmarked & mail to:
Georgia Development Authority
1890 Hwy 138
Monroe, GA 30655
Or email it to:
Additional Information Below
Quick Facts for SAFETY 24 Loan Program
To qualify for a SAFETY 24 loan, an applicant will:
- be a farmer who has sustained an agricultural loss as a direct result of Hurricane Helene.
- have a loss in a county designated by FEMA as a disaster area(or adjacent county)*.
- be in good standing with GDA on current loans.
- be at least 18 years of age and a permanent legal resident of Georgia.
- offer real estate as collateral.
- have a credit score of at least 620.
- have never been convicted of a drug offense.
- fully complete the required documents and submit them together as an application package. Your “place in line” is established ONLY when the package is complete.
Interest Rate:? 2%
Fixed or variable? Fixed
Term in years? 20 Years
Differed payments? Annual or monthly payments? Payments will be due a year from the time of closing.
Collateral required: Must be farmland (The tax card value X 2.2 is considered the value of the collateral)
Is secondary position acceptable? Yes
Our maximum loan is $500,000.00. (Based on verified losses and collateral value.)
How To Apply for a SAFETY 24 Loan
Complete the forms to the left. Add attachments if necessary. PLEASE WRITE LEGIBLY
- Loan Application
- Continuity Agreement (or equivalent)
- Verification of Loss
Application Packages may be printed and sent to us by mail or they may be scanned and emailed to anita@gdaonline.com.
What happens after my application package is received?
Once your loan application package has been received and verified for completeness, it will be assigned to a loan specialist. The loan specialist will contact you, review the package and collateral, and make a recommendation to the Board of Directors.
If the Board approves your loan, you will receive a letter stating the terms, payments, and other requirements you must commit to. If you agree with the terms noted in the commitment letter, you may sign it and send it back in the envelope included with your commitment letter or you may scan it to anita@gdaonline.com.
Once your chosen attorney certifies title, we will decide on a closing date for your loan.
If your loan is not approved, you will receive a letter from Georgia Development Authority explaining why.