Published: October 05, 2009 02:51 pm      

Farm Service Agency (FSA) emergency loans available for farms in 74 counties

ADA — The Secretary of Agriculture designated 74 counties in Oklahoma as primary disaster areas due to losses caused by extreme weather including drought, floods, hail, freeze, fire, and high winds that began Sept. 1, 2008 and ended June 30, 2009. The following counties in Oklahoma were declared primary counties where eligible farmers can apply for emergency loan assistance from the Farm Service Agency:

All Oklahoma Counties except Adair, Cherokee, and Pushmataha

Farm operators in contiguous counties are also eligible to be considered for low-interest emergency loans from the Farm Service Agency (FSA). The following counties were named as contiguous counties:

Adair, Cherokee, and Pushmataha

Eligible producers, in the designated counties, may apply for emergency loan assistance, according to S. Michael Roberts, Farm Loan Manager for Pontotoc, Coal, Pottawatomie, and Seminole Counties.

Emergency loan funds may be used to purchase seed, fertilizer, fuel, and repairs.

“A farmer can use the money for the most essential operating and living costs,” Roberts said.

To be eligible for a loan, an applicant must have suffered losses as a direct result of the disaster and be unable to get credit from other sources. Loans covering actual losses are at an interest rate of 3.75 per cent per annum. The amount of the loan is determined by actual certification of loss less any compensation received, repayment capacity of the borrower, and availability of security.

EM loan applications will be received through close of business August 13, 2010. Farmers and ranchers, who believe they can qualify, may contact the Pontotoc County FSA Office at 580-332-3070ext. 2 for additional details.