Farm Service Agency (FSA) Emergency Loans Available
Secretary of Agriculture, Mike Johanns, designated all 77 counties in Oklahoma as primary disaster areas due to losses caused by drought, extreme heat, and high winds that occurred January 1, 2006 , and is continuing. The disaster determination allows eligible farmers in all 77 counties to apply for emergency loan assistance from the Farm Service Agency, according to Stephen L. 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.
The EM loan applications will be received through close of business March 27, 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