Loan open to farmers
Published 12:00 am Monday, January 3, 2011
NATCHEZ — Adams County farmers who have experienced losses this year are eligible for disaster loans through the U.S. Department of Agriculture.
“Emergency loans for farmers, ranchers and operators are available through the Lincoln and Pike County Office of the Farm Service Agency,” David K. Smith, FSA Farm Loan Manager said in a press release.
The loans are to help farmers dealing with problems caused by the current drought period that began March 23.
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Any farmers who experienced damages or losses due to the drought are eligible for the loan.
Adams, Claiborne, Jefferson and Wilkinson counties are contiguous to the primary natural disaster area in Louisiana that was declared on Nov. 30, making the counties eligible for Federal Disaster assistance pursuant to the Consolidated Farm and Rural Development Act.
Representatives from the Lincoln County FSA said farmers have until Aug. 1 to apply for the loans, and that affected farmers need to take advantage of the program.
While there is no FSA office in Adams County, farmers in the county can contact their local farm agents or visit the loan offices in Pike and Lincoln counties for an application.
According to the press release, farmers qualifying for the emergency loans may borrow up to 100 percent of their actual production loss, or the amount needed to restore their operation to its pre-disaster condition.
Farmers will receive aid in whichever amount is less.
The new emergency loan and outstanding principal balance of any existing emergency loan owed by the farmer applying for the loan cannot surpass $500,000.
Emergency loans from the FSA cover the losses from designated disasters and are made to farmers who qualify but cannot receive credit help from other local lenders in the area.