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Emergency Loans Available

On July 15, Farm Service Agency (FSA) Fillmore County office announced that family farmers in 53 Nebraska counties, who suffered physical or production losses due to severe storms, flooding, and tornadoes that occurred on June 1, 2010 and continuing may be eligible for Farm Service Agency (FSA) Emergency (EM) loans. The counties named did not include Fillmore County.

The following 35 Nebraska counties became eligible for this assistance because they are contiguous to one or more of the primary Nebraska counties that were declared a Presidential Major Disaster on July 15, 2010, by President Obama due to this disaster. These counties includes Fillmore.

Family farmers interested in finding out if they are eligible should contact Ryne Norton, county executive director for information. He can be reached Monday through Friday between 8 a.m. and 4:30 p.m., at the Fillmore County FSA office at 402-759-4463.

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 the 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 losses, up to a maximum amount of $500,000. The 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 EM loans is 3.75 percent. The deadline for submitting applications is March 15, 2011.

In addition to the Emergency (EM) Loan Program, FSA has other Direct and Guaranteed Farm Operating and Farm Ownership Loan Programs, which can be considered in assisting farmers to recover from their losses. Additional information about FSA Farm Loan Programs is available at HYPERLINK “http://www.fsa.usda.gov/dafl” www.fsa.usda.gov/dafl.