FSA accepting emergency farm loan applications
Houston County Courier
Emergency farm loans for losses caused by drought, excessive heat, high winds, and wildfi res Jan. 1 and con- tinuing are being accepted at the Farm Service Agen- cy (FSA) offi ce located in Franklin, Nathan P. Phili- pello, Farm Loan Manager said Wednesday, June 29. Houston, Brazos, Bur- leson, Freestone, Grimes, Leon, Limestone, Madi- son, Robertson and Walker Counties are 10 of 213 Counties in Texas recently named by Secretary of Ag- riculture, Tom Vilsack, eli- gible for loans to cover part of actual production and/or physical losses resulting from the losses. Philipello said farmers may be eligible for loans of up to 100 percent of their actual losses or the operat- ing loan needed to continue the agricultural business, whichever is less. For farmers unable to ob- tain credit from private com- mercial lenders, the interest rate is 3.75 percent. “As a general rule, a farmer must have suffered at least a 30 percent loss of production to be eligible for an FSA emergency loan,” Philipello said. Farmers participating in the Federal Crop Insurance program will have to consider pro- ceeds from those programs in determining their loss.