Disaster loans available for farmers
Emergency loans for farmers, ranchers, and operators are available through the Tunica County Office of the Farm Service Agency,” Bobbie Butler, FSA Farm Loan Manager, said.
According to Bobbie Butler, this authority is pursuant to President Obama’s declaration on May 7, 2011, of a major disaster in Arkansas, caused by severe storms, tornadoes, and associated flooding that occurred on April 23 and continuing. Tunica County is contiguous to the primary natural disaster area. Therefore, it has been designated eligible for Federal Disaster assistance pursuant to Section 321 (a) of the Consolidated Farm and Rural Development Act.
Applications for assistance in the disaster-stricken county will be accepted by FSA through January 9, 2012.
Farmers qualifying for emergency loans may borrow up to 100 percent of their actual production loss or the amount needed to restore their operation to its pre-disaster condition, whichever is less. The new emergency loan and outstanding principal balance of any existing emergency loan owed by the applicant or any individual member of an entity cannot exceed $500,000.00.
FSA emergency loans cover losses from designated disasters and are made to qualified farmers who cannot obtain credit from other lenders in the local area.
The U.S. Department of Agriculture (USDA) prohibits discrimination in all of its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, political beliefs, genetic information, reprisal, or because all or part of an individual’s income is derived from any public assistance program.
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