Kemper County farmers eligible for disaster loans
Wednesday, November 2, 2016 6:00 PM
From special reports
“Emergency loans for farmers, ranchers, and operators are available through the Kemper County Office of the Farm Service Agency,” Mark L. Dillard, FSA Farm Loan Manager, said earlier this week.
According to Dillard, this authority is pursuant to Secretary Vilsack’s declaration on October 26, 2016, of a major disaster in Mississippi caused by a drought intensity value during the growing season of: (1) D2 (Drought-Severe) for 8 or more consecutive weeks; or (2) D3 (Drought-Extreme) or D4 (Drought-Exceptional) according to the U.S. Drought Monitor. As a result, Kemper County has been designated a primary natural disaster area eligible for Federal Disaster assistance pursuant to Section 321 (a) of the Consolidated Farm and Rural Development Act.
Applications for assistance in the disaster-stricken county will be accepted by FSA through June 26, 2017.
Farmers qualifying for emergency loans may borrow up to 100 percent of their actual production loss or the amount needed to restore their operation to its pre-disaster condition, whichever is less. The new emergency loan and outstanding principal balance of any existing emergency loan owed by the applicant or any individual member of an entity cannot exceed $500,000.00.
FSA emergency loans cover losses from designated disasters and are made to qualified farmers who cannot obtain credit from other lenders in the local area.