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Emergency loans available from FSA PDF Print E-mail

Farm Service Agency (FSA) Perkins County Office announced that family farmers in three Nebraska counties who suffered physical or production losses due to damages and losses caused by excessive rain, hail, high winds, and flooding that occurred on June 6, 2009 and continuing, may be eligible for Farm Service Agency (FSA) Emergency (EM) loans.
In addition, with a qualifying loss, this designation makes producers eligible for the Supplemental Revenue Assistance Program (SURE).
The counties named are: Hayes, Perkins and Valley.
In addition, 12 Nebraska counties became eligible for this assistance because they are contiguous to one or more of the primary Nebraska counties that were designated by the Secretary of Agriculture on Aug. 25, due to this disaster. Those contiguous counties are:
Chase, Deuel, Frontier, Greeley, Keith, Sherman, Custer, Dundy, Garfield, Hitchcock, Lincoln and Wheeler.
Family farmers interested in finding out if they are eligible should contact Mary L Karash, CED or Ben Herink, FLM for information.
They can be reached Monday through Friday between 8 a.m. to 4:30 p.m. at either the Perkins County FSA (353-4747- Mary) or the Keith County FSA (284-2048-Ben).
Emergency loan applications are available and must be submitted through the local FSA county office from any applicant who qualifies for a physical or production loss (at least a 30 percent reduction from normal) in a single enterprise from this disaster in the counties.
To qualify for an EM loan, an applicant must be an established family farm operator; provide evidence of having suffered a qualifying physical or production loss; be unable to obtain suitable credit from a source other than FSA. The low interest loans may cover up to 100 percent of their actual production losses, up to a maximum amount of $500,000.
The applicants must show ability to repay the loan and the loan must be adequately secured.
FSA loans for production losses may be used to buy feed, seed, fertilizer, livestock, or to refinance certain debts.
FSA loans for physical losses may be used to repair or replace the property that was damaged or lost.
The current interest rate for EM loans is 3.75 percent.
The deadline for submitting application is April 26, 2010.
In addition to the Emergency (EM) Loan Program, FSA has other Direct and Guaranteed Farm Operating and Farm Ownership Loan Programs, which can be considered in assisting farmers to recover from their losses.
Additional information about FSA Farm Loan Programs is available at www.fsa.usda.gov/dafl.