Farmers in Nemaha County, who suffered crop or livestock losses due to drought occurring August 7, 2012 and continuing may now apply for Farm Service Agency (FSA) emergency loans,” FSA Farm Loan Manager Kay A. McCoy, said today.
Marshall and Pottawatomie Counties also became eligible under existing legislation which provides that farmers in counties bordering on those which have been designated for disaster assistance, may also qualify for such assistance. Applications for assistance will be accepted by FSA until April 15, 2013.
Loans covering physical and/or production losses are scheduled for repayment as rapidly as feasible, consistent with the applicant’s reasonable ability to pay. The current interest rate is 2.25 percent but is subject to monthly changes until the loan is approved.
FSA’s Farm Loan Programs staff is committed to new and existing customers, FSA customer goals and our rural communities. FSA’s service extends beyond the typical loan, offering FSA customers ongoing consultation, advice and creative ways to make your farm business thrive. At the Farm Service Agency, we want to be your lender of first opportunity to overcome these adverse weather conditions and rebuild your operation to get back on track. FSA’s loan staff can refer customers to other public and commercial financing sources that can serve as a blend with FSA’s farm loan programs.
FSA loans covering physical losses may be used to replace installations, equipment, livestock, or buildings (including homes), lost through this disaster.
FSA loans covering production losses may be used to buy feed, seed, fertilizer, livestock, or to make payments on real estate and chattel debts. Funds can also be used for other essential operating and living expenses.
To be eligible for an emergency disaster loan, an applicant must be operating a family size farm or ranch, must be unable to get credit elsewhere, and must have suffered a qualifying physical and/or production loss from the disaster.
Farmers who suffered at least a 30 percent reduction to at least one cropping enterprise, may have a qualifying production loss. Emergency disaster production loss loans cover 100 percent of qualifying losses.
Farmers and ranchers that think they may eligible should contact the FSA County Office in Seneca, Kansas or call (785) 336-3543 Ext #120 or #128 for additional information and how to apply. USDA is an equal opportunity employer and provider.