County farmers may get emergency loans

Published 12:00 am Monday, October 6, 2008

NATCHEZ — Farmers, ranchers and other producers in the area may be eligible for emergency loans following the recent presidential disaster declaration.

Adams County was one of eight Mississippi counties that are included in the areas eligible for aid following the presidential declaration of disaster in the wake of Hurricane Gustav, Farm Service Agency Farm Loan Manager David K. Smith said in a statement.

The loans will be available through the Lincoln and Pike County office of the Farm Service Agency.

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Those who qualify for the emergency loans have the option of borrowing as much as 100 percent of their actual production loss, or they may borrow whatever amount is needed to return their operation to its condition before the disaster, depending on which one is less.

However, the loans and the principal outstanding balance of any other loan owned by an individual borrower or a borrower within a business entity cannot exceed $500,000.

Loans from the Farm Service Agency are designed to cover losses from designated disasters, and are offered to farmers who cannot obtain credit from other lending agencies in the area.

The Lincoln County FSA office can be reached at 601-833-9321 extension 2, and the Pike County office can be reached at 601-684-2584 extension 2.

Other counties included in the disaster designation include Amite, Claiborne, Copiah, Franklin, Lawrence, Lincoln and Pike Counties.