July 3, 2018
Agricultural producers in Minnesota, Iowa and South Dakota who lost property due to recent natural disasters are eligible for physical loss loans from USDA. USDA’s Farm Service Agency offers these loans for losses caused by three separate disaster events.
FSA is offering these low-interest emergency loans to producers with a qualifying loss in eligible counties. Approval is limited to applicants who suffered severe physical losses only, including the loss of buildings and livestock.
Blizzard:
Physical loss loans are available to eligible agricultural producers in Lincoln County, Minnesota, who incurred losses caused by a blizzard that occurred on April 13 through April 14, 2018.
Additionally, producers in three contiguous counties in Minnesota may be eligible for programs based on this designation. The contiguous counties are: Lyon, Pipestone and Yellow Medicine. Producers in Bookings, Deuel and Moody counties in South Dakota may also be eligible because they are contiguous.
The deadline for producers in designated primary and contiguous counties to apply for loans for physical losses is Feb. 25, 2019.
Blizzard, excessive snow and high winds:
Physical loss loans are available to eligible agricultural producers in Murray County, Minnesota, who incurred losses caused by a blizzard, excessive snow and high winds that occurred on April 14, 2018.
Additionally, producers in six contiguous counties in Minnesota may be eligible for programs based on this designation. The contiguous counties are: Cottonwood, Lyon, Nobles, Pipestone, Redwood and Rock.
The deadline for producers in designated primary and contiguous counties to apply for loans for physical losses is Feb. 25, 2019.
Tornado:
Physical loss loans are available to eligible agricultural producers in Freeborn, Minnesota, who incurred losses caused by a tornado that occurred on May 29, 2018.
Additionally, producers in four contiguous counties in Minnesota may be eligible for programs based on this designation. The contiguous counties are: Faribault, Mower, Steele and Waseca. Producers in Winnebago and Worth counties in Iowa may also be eligible because they are contiguous.
The deadline for producers in designated primary and contiguous counties to apply for loans for physical losses is Feb. 25, 2019.
About physical loss loans
Physical loss loans can help producers repair or replace damaged or destroyed physical property essential to the success of the agricultural operation, including livestock losses. Examples of property commonly affected include essential farm buildings, fixtures to real estate, equipment, livestock, perennial crops, fruit and nut bearing trees, and harvested or stored crops and hay.
Please contact FSA for more information on loan eligibility and the application process. FSA office information is available at http://offices.usda.gov/. Additional FSA disaster assistance program information is available at http://disaster.fsa.usda.gov/.
Source: USDA FSA
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