Loans out there to help flood victims

Staff reports

Tim Kelly, state executive director of Farm Service Agency, has announced that residents in Newton, McDonald and Barry counties will have disaster loans available due to severe storms and flooding which began March 17.

Applications for assistance will be accepted at the county office of the Farm Service Agency, 76 Main St., Cassville, for physical and production losses caused by this disaster. Applications will be accepted through Dec. 9.

Loans for physical losses must be used to replace or repair damage to buildings, fences, or to compensate the farmer for losses of basic livestock, stored crops, or supplies on hand, equipment, etc., that was lost due to the disaster. Loans for production losses may also be used to buy feed, seed, fertilizer, livestock or to make payments on real estate or chattle debts. Generally, loans for production cycle cannot be approved until crops have completed their production cycle or have been harvested.

In order to qualify, a farmer must have suffered a 30 percent loss in production or an actual physical loss that was essential to the successful operation of the farm.

Loans for actual losses are made at an interest rate of 3.75 percent for emergency loans to those applicants who are unable to obtain the actual credit needed from another source. All loan programs of the Farm Service Agency are conducted under a non-discriminatory basis.

Neosho Daily News