Area farmers now eligible for disaster emergency loans
The Farm Service Agency announced on Friday that producers in Barnes, Cass and Richland Counties may now apply FSA Emergency Loans.
FSA Farm Loan Manager Larry Schroeder said farmers who suffered physical and production losses due to combined effects of:
frosts and freezes in late spring and early fall
excessive rain, flooding, ground saturation
periods of unseasonably cool spring temperatures
excessive summer heat
weather related insects
that occurred Jan. 1, 2011, and continuing may now apply.
The deadline for loan applications to be filed is June 25, 2012. Applicants must be able to provide documentation of losses, payments, insurance benefits and other compensation for production losses.
Shroeder said farmers who suffered a qualifying production loss of at least 30 percent from normal and are unable to get credit elsewhere, may apply for reduced interest loans to cover up to 100 percent of their losses. The loans carry a 3.75 percent interest rate. To qualify for physical losses, there does not have to be a qualifying loss amount.