Nebraska Counties are eligible for USDA Emergency Loans
Burt, Cass, Dakota, Douglas, Otoe, Sarpy, Thurston, Washington
These eight Nebraska counties became eligible for this assistance because they are contiguous to one or more of the 21 Iowa counties that were declared a Presidential Major Disaster on February 25, 2010, by President Obama due to this disaster.
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 October 25, 2010.
Farm Service Agency (FSA) State Executive Director, Dan Steinkruger, announced today that family farmers in eight Nebraska counties may be eligible to apply for low interest Emergency (EM) loans due to physical and production losses caused by a severe winter storm and snowstorms that occurred from December 23, 2009 through December 27, 2009. Those counties are:
Burt, Cass, Dakota, Douglas, Otoe, Sarpy, Thurston, Washington
These eight Nebraska counties became eligible for this assistance because they are contiguous to one or more of the 21 Iowa counties that were declared a Presidential Major Disaster on February 25, 2010, by President Obama due to this disaster.
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 October 25, 2010.
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