Nebraska Counties are Eligible for USDA Emergency Loans
The following eight contiguous Nebraska counties were also named as areas where eligible family farmers may qualify for EM physical and production loss loan assistance. These counties are:
Adams, Custer, Dawson, Hall, Howard, Kearney, Phelps, Sherman
In addition, with a qualifying loss, this Secretarial Disaster Designation makes producers eligible for the Supplemental Revenue Assistance Program (SURE) in all primary and contiguous counties.
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 these 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 or physical losses, to a maximum amount of $500,000. The loan 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 the EM loans is 3.75%. The deadline for submitting applications is August 9, 2010.
Farm Service Agency (FSA) State Executive Director, Dan Steinkruger, announced today that family farmers in Buffalo County in Nebraska may be eligible to apply for low interest Emergency (EM) loans due to physical and production losses caused by excessive rain, hail, high winds, and flooding that occurred from June 6, 2009, and continuing. Buffalo County became eligible of this assistance because it was designated as a natural disaster area on December 8, 2009 by the Secretary of Agriculture.
The following eight contiguous Nebraska counties were also named as areas where eligible family farmers may qualify for EM physical and production loss loan assistance. These counties are:
Adams, Custer, Dawson, Hall, Howard, Kearney, Phelps, Sherman
In addition, with a qualifying loss, this Secretarial Disaster Designation makes producers eligible for the Supplemental Revenue Assistance Program (SURE) in all primary and contiguous counties.
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 these 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 or physical losses, to a maximum amount of $500,000. The loan 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 the EM loans is 3.75%. The deadline for submitting applications is August 9, 2010.
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