-Farm Loans available
Secretary of Agriculture, Mike Johanns, designated Cherokee and Morton Counties in Kansas as a primary disaster area due to losses caused by drought, high winds, wildfires, and above normal temperatures that occurred August 1, 2005 , and is continuing. The disaster determination allows eligible farmers in the disaster area to apply for emergency loan assistance from the Farm Service Agency. Farm operators in contiguous counties are also eligible to be considered for low-interest emergency loans from the Farm Service Agency (FSA). Cimarron , Craig, Ottawa , and Texas Counties , in Oklahoma , have been declared contiguous disaster counties. Eligible producers, in the designated counties, may apply for emergency assistance, according to Stephen Vaughan, Farm Loan Loan Officer for Cimarron County .
Emergency loan funds may be used to purchase seed, fertilizer, fuel, and repairs. “A farmer can use the money for the most essential operating and living costs,” Vaughan said. To be eligible for a loan, an applicant must have suffered losses as a direct result of the disaster and be unable to get credit from other sources. Loans covering actual losses are at an interest rate of 3.75 per cent per annum. The amount of the loan is determined by actual certification of loss less any compensation received, repayment capacity of the borrower, and availability of security.
EM loan applications will be received through close of business February 12, 2007 . Farmers and ranchers, who believe they can qualify, may contact the Cimarron County FSA Office at 580-544-2401 for additional details.
Boise City News