Emergency farm loans open for drought-affected farmers 1

Farm Service Agency, Seguin, Texas: 8/14/12

FSA Farm Loan Manager Raecene Randall announced today that applications for emergency farm loans for losses caused by damages and losses caused by drought January 01, 2012 and continuing are now being accepted at the Farm Service Agency (FSA) office in Seguin.

Bee, Bexar, Comal, Goliad, Guadalupe, Hays, Karnes, Refugio, and Wilson are nine(9) Counties in Texas recently named by the Secretary of Agriculture, Secretary Vilsack, eligible for loans to cover part of actual production losses resulting from the drought. Randall said farmers may be eligible for loans of up to 100% of their actual losses or the operating loan needed to continue the agricultural business, whichever is less. For farmers unable to obtain credit from private commercial lenders, the interest rate is 3.75 percent.

“As a general rule, a farmer must have suffered at least a 30 percent loss of production to be eligible for an FSA emergency loan”, Randall said. Farmers participating in the Federal Crop Insurance program will have to consider proceeds from those programs in determining their loss. 

“Applications for loans under this emergency designation will be accepted until 03/12/2013 but farmers should apply as soon as possible. Delays in applying could create backlogs in processing, with possible delays into the new farming season,” according to Randall.

FSA is a credit agency of the U.S. Department of Agriculture. It is authorized to provide disaster emergency loans to recognized farmers who work at and rely on farming for a substantial part of their living. Eligibility is extended to individual farmers who meet U.S. citizenship requirements and to farming partnerships, corporations, or cooperatives in which U.S. citizenship requirements are met by individuals holding a majority interest. The FSA office in Seguin is open from 8:00 a.m. to 4:30 p.m., Monday through Friday. Additional Information regarding Disaster Assistance Programs may be found online at http://disaster.fsa.usda.gov.

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Texas Guadalupe County Office

3251 N. Hwy 123 Bypass

Seguin, Texas 78155

Contact: Raecene Randall

830-379-0932

Raecene.randall@tx.usda.gov

USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write to USDA, Assistant Secretary for Civil Rights, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue, S.W., Stop 9410, Washington, DC 20250-9410, or call toll-free at (866) 632-9992 (English) or (800) 877-8339 (TDD) or (866) 377-8642 (English Federal-relay) or (800) 845-6136 (Spanish Federal-relay).

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One comment

  1. I am happy to know that emergency farm loans have been introduced for drought affected ranchers and farmers. It has really brought great sense of relief to most of the farmers who have suffered a lot during drought and have lost most of their property. I think above mentioned criteria for emergency farming loans is the only requirement needed to satiate by farmers when seeking for loan assistance.

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