IRRIGATION LOAN PROGRAM
The AADA Irrigation Loan Program is a low-interest loan program for Alabama Fruit, Vegetable, and Nut Producers to provide financial assistance to assist with the cost of irrigation on farms in Alabama. Irrigation System plans must meet certain standard criteria with said plans to be reviewed and approved by an AADA representative prior to purchase and/or start of installation.
Allowable funding of the direct cost is limited to a negotiable maximum amount subject to an approved loan amount to be verified by actual receipts.
Loans are for a maximum of 4 years at a simple annual interest rate of 3½ percent. A signed promissory note denoting payment schedule will be required along with verifiable first position on chattel security that sufficiently collateralizes the loan.
If you would like to apply for a loan under this program, complete the Loan Application and attach a $50 application fee payable to Alabama Agricultural Development Authority, and submit to
Alabama Agricultural Development Authority
1445 Federal Drive
Montgomery, AL 36107
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