Farm/ranch emergency loan deadline looming

The expiration date for filing applications for Emergency Disaster (EM) loans by farmers and ranchers in Bourbon County is April 20, Robert E. White, farm loan manager of Farm Service Agency, said in a news release.

Those needing farm credit as a result of excessive rain, flooding and high winds from Feb. 1, 2010-July 15, 2010 and who think they are eligible for FSA assistance should file applications at the FSA County Office, 107 S. Summit, Girard, before the deadline.

"Loans covering physical and/or production losses may be made at 3.75 percent interest rate, and are scheduled for repayment as rapidly as feasible, consistent with the applicant's reasonable ability to pay," said White.

FSA loans covering physical losses may be used to replace installations, equipment, livestock, or buildings (including homes), lost through this disaster.

FSA loans covering production losses may be used to buy feed, seed, fertilizer, livestock, or to make payments on real estate and chattel debts. "Funds can also be used for other essential operating and living expenses," White said.

To be eligible for an emergency disaster loan, applicants must be operating a family-size farm or ranch, must be unable to get credit elsewhere and must have suffered a qualifying physical and/or production loss from the disaster.

Farmers who suffered at least a 30 percent reduction to at least one cropping enterprise may have a qualifying production loss. Emergency disaster production loss loans cover 100 percent of qualifying losses.

Farmers and ranchers who think they may eligible should contact the FSA County Office in Girard, or call (620) 724-6227 for additional information and how to apply.