Relating to the creation of the Texas Small Farm Recovery Microloan Progam.

SB 2875 creates the Texas Small Farm Recovery Microloan Program (TSFRMP) to provide low-interest loans to small Texas farms facing financial hardship. The program offers loans ranging from $5,000 to $50,000 at a maximum 2% fixed annual interest rate, with repayment terms up to five years (including optional 6-12 month grace periods). Eligible applicants must own or operate a Texas farm with under $500,000 in annual revenue, demonstrate financial hardship, and use funds for agricultural needs like seeds, equipment repairs, labor costs, or disaster recovery. The Texas Agriculture Department will administer the program in partnership with financial institutions and provide business support services to participants.