Farmers may apply for emergency loans
Garry W. Movall, Farm Loan manager at the Henry County Farm Service Agency (FSA) office, announced that family farmers who suffered qualifying production losses caused by drought in Henry, Washington, Louisa, or Des Moines counties from Aug. 27, 2013, through Oct. 28, 2013, may be eligible for an FSA low-interest emergency loan.
The Farm Service Agency makes emergency loans to eligible family farmers to enable them to return to normal operations after sustaining a loss resulting from natural disasters. For production loss loans, the disaster yield must be at least 30 percent below the normal production on a crop that is an essential part of the farming operation.
Applicants must have suffered qualifying losses and be unable to obtain credit from other usual sources to qualify for FSA Farm Loan Program assistance. The interest rate for an emergency loan is currently 2.875 percent. The repayment schedule for most disaster loans are based on useful life of the security, applicant’s repayment ability, and type of loss. Each applicant applying for credit will be given equal consideration without regard to race, creed, color, marital status or national origin.
The final date for making applications is Aug. 11, 2014.
For more information on this or other FSA programs, producers are encouraged to contact Garry W. Movall, Farm Loan Manager at the Henry County FSA office located at 709 S. Iris Street, Suite 102, Mount Pleasant, IA 52641. The telephone number is 319-385-2037. Information can also be found at <www/fsa.usda.gov>.