Physical loss loans are available through FSA

     U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Acting Administrator Steven J. Peterson announced Oct. 26 that physical loss loans are available for 10 counties in Iowa as a result of four separate disaster events. Farm operators who have suffered major physical losses caused by excessive rain, flash flooding, flooding, hail, high winds, lightning and tornados may be eligible for emergency loans.

     Two of these events involve Jones County. One is an administrator’s Physical Loss Notification that has been issued for Jones, Fremont, Linn, Marion, Page and Taylor counties, the primary damaged area, due to flooding, hail, high winds, lightning and tornados that occurred on June 28, 2017.

     Additionally, 20 Iowa counties are contiguous to this designated disaster area, making these producers also potentially eligible for programs based on this designation. The contiguous counties are: Adams, Benton, Buchanan, Cedar, Clinton, Delaware, Dubuque, Iowa, Jackson, Jasper, Johnson, Lucas, Mahaska, Mills, Monroe, Montgomery, Polk, Ringgold, Union and Warren.

     The second is an Administrator’s Physical Loss Notification issued for Clinton County, the primary damaged area, due to hail that occurred on Aug. 10, 2017.

     Additionally, four Iowa counties are contiguous to this designated disaster area, making these producers also potentially eligible for programs based on this designation. The contiguous counties are: Jones, Cedar, Jackson and Scott.

     FSA’s low interest emergency loans may be made available to any applicant with a qualifying loss in the counties named above. Approval is limited to applicants who suffered severe physical losses only.

     Physical loss loans may be made to eligible farmers and ranchers to repair or replace damaged or destroyed physical property essential to the success of the agriculture 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.

     Producers in eligible counties have eight months from the date of the declaration to apply for loans for physical losses.

     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.

 

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