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FSA emergency loans available
Kansas Bill R. Fuller, state executive director of the Kansas Farm Service Agency announced July 12 that FSA is making emergency loans available to help qualified producers recover from production and physical losses due to tornados, severe storms and flooding. Presidential Disaster Declaration M1712 for Oklahoma storms on June 10, 2007 and continuing, made the following contiguous counties in Kansas eligible for emergency loans: Chautauqua, Cherokee, and Montgomery. Producers in these counties have until March 7, 2008 to apply for an emergency loan. Counties approved in multiple disaster designations will have until the latest application deadline to apply for an emergency loan. Eligible loan funds may be used to restore or replace essential property and pay production costs associated with the disaster year. Applicants can borrow up to 100 percent of actual production or physical losses not to exceed $500,000. The current rate for these low interest loans is 3.75 percent. Producers must meet eligibility requirements and not be able to obtain credit from a commercial lender. FSA will consider each loan application on its own merits, taking into account the extent of losses, security available and repayment ability. Contact the FSA office at your local USDA Service Center. Date: 7/19/07
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