Mr. Tim Kelly, State Executive Director, Farm Service Agency, announced effective June 13th, 2008 that Nodaway County in Missouri will have FSA disaster loans available due to severe storms, tornadoes, and flooding which occurred from May 25th, 2008 and continuing. Applications for assistance will be accepted at the Nodaway County office of the Farm Service Agency for physical and production losses caused by this disaster. Applications will be accepted through February 13th, 2009.
Loans for physical losses must be used to replace or repair damage to buildings, fences, or to compensate the farmer for losses of basic livestock, stored crops, or supplies on hand or equipment that was lost due to the disaster. Loans for production losses may also be used to buy feed, seed, fertilizer, livestock, or to make payments or real estate or chattel debts. Generally, loans for production losses cannot be approved until crops have completed their production cycle or have been harvested.
In order to qualify, a farmer must have suffered a 30% loss in production or an actual physical loss that was essential to the successful operation of the farm.
Loans for actual losses are made at an interest rate of 3.75% for emergency loans for those eligible applicants who are unable to obtain the credit needed from another source. All loan programs of the Farm Service Agency are conducted on a non-discriminatory basis.
No comments:
Post a Comment