Farm Service Agency (FSA) Emergency Loans Available
Stephen L. Vaughan
Farm Loan Officer
Secretary of Agriculture, Mike Johanns, has designated 35 counties in Colorado as primary disaster areas due to losses as a result of drought, fire, high winds, and heat from January 1, 2006 , and is continuing. The disaster determination allows eligible farmers in the disaster areas 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 County in Oklahoma , has been declared a contiguous disaster county. Eligible producers in the designated county may apply for emergency loan assistance, according to Stephen Vaughan, Farm 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 March 12, 2007 . Farmers and ranchers, who believe they can qualify, may contact the Cimarron County FSA Office at 210 S. Cimarron , Boise City , OK , phone (580) 544-2401 for additional details.
Boise City News