GREENSBURG — Effective Aug. 29, 2019, U.S. Department of Agriculture Secretary Sonny Perdue issued a Secretarial Disaster Declaration for the State of Indiana based on excessive rain and flooding that occurred beginning March 1, 2019 and continuing. This Secretarial disaster determination number is S4514.
As a result of this disaster determination, 11 primary Indiana counties and two contiguous Indiana counties were declared eligible for assistance including Farm Service Agency (FSA) emergency (EM) loans in this area. The primary and contiguous counties covered by the Decatur County Regional Office in Greensburg are Bartholomew, Brown, Dearborn, Decatur, Franklin, Jennings, Johnson, Marion, Ohio, Ripley, Rush, Shelby and Switzerland.
Emergency loans may be made to farmers who:
• 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% 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 3.75% 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 Decatur County, said, “Emergency loan applications will be received through April 29, 2020, 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 March 1, 2019. Loan approvals will be contingent upon the availability of funds.”
If you have any questions or desire further information, contact USDA, Farm Loan Programs at (812) 663-8674 ext. 2, in Greensburg.
Information provided by USDA