Emergency farm loans offered
Applications for emergency farm loans for losses caused by drought, above-normal temperatures and associated wildfires are being accepted at the Farm Service Agency (FSA) office in Marlin, according to Terri Treviño, FSA spokesperson.
Bell, Falls, Milam and Williamson counties are four of 205 in Texas recently named by Secretary of Agriculture Tom Vilsack as eligible for loans to cover part of actual production and/or physical losses resulting from the drought, above-normal temperatures of associated wildfires.
Treviño said farmers may be eligible for loans of up to 100 percent of their actual losses or the operating loan needed to continue the agricultural business, whichever is less.
For farmers unable to obtain credit from private commercial lenders, the interest rate is 3.75 percent, she said.
“As a general rule, a farmer must have suffered at least a 30-percent loss of production to be eligible for an FSA emergency loan,” Treviño said.
“Farmers participating in the Federal Crop Insurance program will have to consider proceeds from those programs in determining their loss,” she said.
“Applications for loans under this emergency designation will be accepted until July 2, 2010, but farmers should apply as soon as possible,” she said.
FSA is a credit agency of the U. S. Department if Agriculture. It is authorized to provide disaster emergency loans to recognized farmers who work at, and rely on, farming for a substantial part of their living.
The Marlin FSA office is open from 8 a.m. to 4:30 p.m. Monday through Friday.
Additional information regarding FSA disaster assistance programs may be found online at http://disaster.fsa. gov.