Farm Service Agency (FSA) Box Butte County Office announced that family farmers in eight Nebraska counties, who suffered physical or production losses due to severe storms, flooding, and tornadoes that occurred on June 1, 2010 through August 29, 2010 may be eligible for Farm Service Agency (FSA) Emergency (EM) loans. The western Nebraska counties include: Dawes, Hooker, and Sheridan.
The following Nebraska counties also became eligible for this assistance because they are contiguous to one or more of the primary Nebraska counties that were declared a Presidential Major Disaster on September 1, 2010 by President Obama due to this disaster. These westen Nebraska counties are: Box Butte, Arthur, Lincoln, Garden, McPherson, Morrill, Cherry, Grant, and Sioux.
Family farmers interested in finding out if they are eligible should contact either Michael Treffer OR Kim Buchheit for information. They can be reached Monday through Friday at the Box Butte or Dawes County FSA Office.
Emergency loan applications are available and must be submitted through the local FSA county office from any applicant who qualifies for a physical or production loss (at least a 30 percent reduction from normal) in a single enterprise from this disaster in the counties. To qualify for an EM loan, an applicant must be an established family farm operator; provide evidence of having suffered a qualifying physical or production loss; be unable to obtain suitable credit from a source other than FSA. The low interest loans may cover up to 100 percent of their actual production losses, up to a maximum amount of $500,000. The applicants must show ability to repay the loan and the loan must be adequately secured. FSA loans for production losses may be used to buy feed, seed, fertilizer, livestock, or to refinance certain debts. FSA loans for physical losses may be used to repair or replace the property that was damaged or lost. The current interest rate for EM loans is 3.75%. The deadline for submitting application is May 2, 2011.
In addition to the Emergency (EM) Loan Program, FSA has other Direct and Guaranteed Farm Operating and Farm Ownership Loan Programs, which can be considered in assisting farmers to recover from their losses. Additional information about FSA Farm Loan Programs is available at www.fsa.usda.gov/dafl.