Emergency physical loss loans available
U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Acting Administrator Steve Peterson today announced that physical loss loans are available for Lewis and Clark County in Montana. Farm operators who have suffered major physical losses caused by extreme cold that occurred from Feb. 17, 2018, through Feb. 25, 2018, may be eligible for emergency loans.
Additionally, Broadwater, Cascade, Flathead, Jefferson, Meagher, Powell and Teton counties in Montana are contiguous to this designated disaster area, making producers in these counties also potentially eligible for programs based on this designation.
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.