Emergency farm loan applications being accepted

Agriculture

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July 29, 2008

For the Republican The Rushville Republican Tue Jul 29, 2008, 10:01 AM EDT

The Farm Service Agency will be accepting applications for emergency loans for Secretarial National Disaster Declaration No. 2657 through Aug. 27, 2008.

These loans may be made for damages and losses to crops due to extended drought conditions that occurred from June 5, 2007 through Nov. 7, 2007.

Effective Dec. 27, 2007, Rush County was designated as a natural disaster area due to being contiguous to one or more counties in Indiana where extensive damage was reported.

Farmers who suffered damage as a result of the disaster may apply for assistance to restore their operation to its pre-disaster condition.

As a general rule, for a production loss, a farmer must have suffered at least a 30 percent loss of production to be eligible for an EM loan.

Farmers participating in federal crop insurance programs will have to figure in proceeds from those programs in determining their loss.

Eligibility extends to individual farmers who rely on farming for a substantial portion of their living, are unable to obtain credit elsewhere and are a U.S. citizen.

The terms of EM loans vary according to the nature of the damage, available security and repayment availability.

Contact your local FSA office at (765) 932-2813 for additional information, or call the FSA office at (812) 663-8674.

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