Greensburg Daily News
Effective July 16 Secretary Tom Vilsack, issued a Natural Disaster Declaration for the State of Indiana based on drought conditions that occurred beginning July 10 and continuing.
This Secretarial disaster determination number is S3293.
As a result of this disaster determination, 14 primary Indiana counties and 16 contiguous Indiana counties were declared eligible for assistance including Farm Service Agency (FSA) emergency (EM) loans in this area. The primary counties covered by the Decatur Regional Office in Greensburg are Bartholomew, Brown, Johnson, Marion and Shelby along with the contiguous counties of Decatur and Rush.
Emergency loans may be made to farmers who meet the following criteria:
* Are established family farm operators
* Are citizens or permanent residents of the United States
* Have the ability, training or experience necessary to repay the loan
* Have suffered a qualifying physical loss, or a production loss of at least 30 percent in any essential farm or ranch enterprise
* Cannot obtain commercial credit
* Can provide collateral to secure an EM loan
* Have repayment ability
Emergency loans can be used for refinancing or annual operating expenses. The interest rate is 2.25 percent for actual loss. FSA will consider each emergency loan application on its own merits, taking into account the extent of production losses, security available and repayment ability.
Janis K. Marlin, Farm Loan Manager for this county said, "Emergency loan applications will be received through March 18, 2013, for physical and production losses; and applications pending on that date may be processed and completed. For the purpose of determining loan security values for these loan applications, the beginning date of the incidence period is July 10, 2012 Loan approvals will be contingent upon the availability of funds."
If you have any questions or desire further information, please contact USDA, Farm Loan Programs at (812) 663-8674, extension 2, in Greensburg.