Sunday, August 10, 2008

FSA Disaster Loans for Worth County

Mr. Tim Kelly, State Executive Director, Farm Service Agency, announced effective July 18th, 2008 that 29 counties including Worth, Nodaway, and Gentry Counties will have FSA Disaster Loans available due to severe storms and flooding which occurred from June 1st through July 18th, 2008.
Applications for assistance will be accepted at the county offices of the Farm Service Agency for physical and production losses caused by this disaster. Applications will be accepted through March 18th, 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, equipment, etc., that was lost due to the disaster. Loans for production losses may also be used to buy feed, seed, fertilizer, livestock, or make payments on real estate or chattel debts. Generally, loans for production losses cannot be approved until crops 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 to those eligible applicants who are unable to obtain the actual credit needed from another source. All loan programs of the Farm Service Agency are conducted on a non-discriminatory basis.

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