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 More…