| ||||
|
|
SW drought aid deadline nears
DES MOINES (DTN)--The U.S. Department of Agriculture is reminding ranchers and farmers in the drought-stricken Southwest that low-interest Emergency (EM) loans are available from the Farm Service Agency (FSA) to qualified borrowers to help recover losses.
"Some ranchers in Arizona and New Mexico had to remove their herds from federal lands because the drought had depleted forage," said James R. Little, administrator of FSA in a news release. "Since their animals could not graze, the ranchers were forced to rapidly reduce their herds. FSA's low-interest Emergency loans can help eligible ranchers and other producers rebuild their herds and rebound from the financial effects the severe drought has had on their businesses."
Several counties in Arizona, New Mexico and other states were declared disaster areas by Agriculture Secretary Ann M. Veneman last year, which makes producers in those areas (and contiguous counties) eligible for EM loans from FSA. Producers have eight months from the approval date of a Secretarial disaster declaration to apply for EM loans. The deadline to apply for EM loans in certain parts of the Southwest is fast approaching, so qualified producers are encouraged to apply as soon as possible. For a complete list of counties that have been declared disaster areas and application deadlines, visit https://disasterhelp.gov/portal/jhtml/usda/usdamap.jhtml.
To obtain EM loans, producers must meet certain eligibility requirements such as having suffered at least a 30-percent loss in crop production or a physical loss to livestock, livestock products, real estate, or chattel property. They must also be unable to obtain private, commercial credit elsewhere. Emergency loan funds may be used to restore or replace essential property; pay all or part of production costs associated with the disaster year; pay essential family living expenses; reorganize the farming operation; and refinance certain debts.
In addition to EM loans, FSA also offers operating loans to qualified borrowers. Loan funds may be used for normal operating expenses, machinery and equipment, real estate repairs and refinancing debt. Eligible applicants may obtain direct loans for up to a maximum indebtedness of $200,000, and guaranteed loans for up to a maximum indebtedness of $782,000 (amount adjusted annually for inflation).
Date: 7/22/04
Copyright 1995-2008. High Plains Publishers, Inc. All rights reserved. Any republishing of these pages, including electronic reproduction of the editorial archives or classified advertising, is strictly prohibited. If you have questions or comments you can reach us at High Plains Journal 1500 E. Wyatt Earp Blvd., P.O. Box 760, Dodge City, KS 67801 or call 1-800-452-7171. Email: webmaster@hpj.com
 
| |||||||||||||||||||
