FSA accepting flood damage applications

Applications for emergency farm/ranch loans for damages and losses caused by flooding that occurred November 2-5, 2000 are being accepted at the Farm Service Agency (FSA) office located in San Angelo, according to FSA Farm Loan Manager, Fred J. Greenway. Concho, McCulloch, Menard, Schleicher, Sutton and Tom Green County are some of the counties in Texas recently named by the Secretary of Agriculture Ann Veneman eligible for loans to cover part of actual production and physical losses resulting from the flooding. Greenway said farmers and ranchers may be eligible for loans of up to 80 percent of actual production losses, or 100 percent of physical losses, or the operating loan needed to continue in business, whichever is less. For farmers and ranchers unable to obtain credit from private commercial lenders, the interest rate is 3.75 percent. “As a general rule, a farmer or rancher must have suffered at least a 30 percent loss of production or a qualifying physical loss to be eligible for an FSA emergency loan,” Greenway said. Farmers and ranchers participating in the Federal Crop Insurance Program will have to figure in proceeds from those programs in determining their loss. “Applications for loans under this emergency designation will be accepted until Oct. 22, but farmers and ranchers should apply as soon as possible. Delays in applying could create backlogs in processing and possibly carry over into the new farming season,” Greenway said. FSA is a credit agency of the U.S. Department of Agriculture. It is authorized to provide disaster emergency loans to recognized farmers and ranchers who work at and rely on farming and ranching for a substantial part of their living. Eligibility is extended to individual farmers and ranchers who are U.S. citizens and to farming and ranching partnerships, corporations or cooperatives in which U.S. citizens hold a majority interest. The FSA office in San Angelo is open from 8 a.m. to 5 p.m. Monday through Friday.

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