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08/12/2011 04:41 PM EDT
For Immediate Release
August 12, 2011
Trudy Kareus, 720.544.2876
August 12, 2011
Contact:
Trudy Kareus, 720.544.2876
Additional Counties Are Eligible for FSA Emergency Loans Because of Natural Disasters
Denver, Colorado, August 11, 2011 - Trudy Kareus, State Executive Director of the Colorado Farm Service Agency (FSA), announced that FSA is making emergency loans available to help qualified producers recover from production and physical losses due to natural disasters.
Secretarial Disaster Designation for ongoing drought conditions and early freeze made the following primary counties in Colorado eligible: Alamosa, Baca, Bent, Chaffee, Conejos, Costilla, Crowley, Custer, Delta, Fremont, Huerfano, Kiowa, Las Animas, Mesa, Montrose, Otero, Prowers, Pueblo, Rio Grande and Saguache.
These contiguous counties in Colorado are also eligible; Archuleta, Cheyenne, El Paso, Garfield, Gunnison, Hinsdale, Jackson, Kit Carson, Lake, Larimer, Lincoln, Mineral, Moffat, Ouray, Park Pitkin, Routt, San Miguel and Teller. In addition, there are some contiguous counties eligible in Kansas, New Mexico and Oklahoma.
Producers in the above listed counties have 9 months from date of designation to apply for an emergency loan. Eligible loan funds may be used to restore or replace essential property and pay production costs associated with the disaster year. Applicants can borrow up to 100 percent of actual production or physical losses not to exceed $500,000. The current rate for these low interest loans is 3.75 percent. Producers must meet eligibility requirements and not be able to obtain credit from a commercial lender. FSA will consider each loan application on its own merits, taking into account the extent of losses, available security and repayment ability.
Producers in these counties may also be eligible for 2011-crop year Supplemental Revenue Assistance (SURE) Payments. SURE is one of five disaster programs included in the Food, Conservation, and Energy Act of 2008 that provides assistance to farmers and ranchers who have suffered losses due to natural disasters. Signup for 2011 losses will be held in a future year.
For further information about the Emergency Loan Program, producers are encouraged to visit their USDA Service Centers or go online to www.fsa.usda.gov.
USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW, Washington, D.C . 20250-9410 or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).
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