JONESBORO, Ark. (KAIT) – Arkansas officials have approved a $5 million bridge loan to help save this year’s peanut harvest after Delta Peanut of Jonesboro announced it was closing.
Gov. Sarah Huckabee Sanders and Arkansas Agriculture Secretary Wes Ward announced Thursday that the funding will come from the Governor’s Quick Action Closing Fund. The loan will allow Delta Peanut to purchase and process peanuts while it works to secure an outside buyer.
“Peanuts are an expanding crop market in Arkansas, and we can’t allow this year’s harvest to rot in the field and kill the entire industry,” Sanders said. “My administration is stepping in to offer this short-term bridge loan and facilitate the purchase of this year’s harvest.”
What officials said
Ward echoed Sanders’ sentiments, saying the governor’s action will save nearly 80% of the state’s peanut crop and keep several farmers from going out of business…