Local counties can receive FSA Disaster loan applications
Posted: Wednesday, August 17, 2011 8:10 am
Emergency loans for farmers, ranchers, and operators are available through the Fayette County Office and the McNairy/Chester County Office of the Farm Service Agency, Will Tippit, Farm Loan Manager, said today.
Farm Service Agency’s State Executive Director, Eugene Davidson, said this authority is pursuant to President Obama’s declaration on July 20, 2011, of a major disaster in Claiborne, Grainger, Henderson, Knox, Loudon and Marion County Tennessee, caused by severe storms, straight-line winds, tornadoes and flooding, which occurred from June 18, 2011 through June 24, 2011. As a result of this major disaster, Chester and Hardin Counties, as contiguous counties in Tennessee, are named as areas eligible for Farm Service Agency (FSA) emergency (EM) loan assistance pursuant to the provisions of Section 321(a) of the Consolidated Farm and Rural Development Act.
Applications for assistance in the disaster-stricken counties will be accepted by FSA through March 20, 2012, for storm related losses.
Farmers qualifying for emergency loans may borrow up to 100 percent of their actual production loss and/or physical loss, not to exceed a maximum of $500,000 or the amount actually needed, whichever is less.
FSA Emergency Loans cover losses from designated disasters and are made to qualified farmers who cannot obtain necessary credit from other lenders in the local area.
To obtain further information, contact Will Tippit, Farm Loan Manager of the Farm Service Agency office located at 18084 Hwy 64, Somerville, TN 38068 or Linda Barnes, Farm Loan Manager of the Farm Service Agency office located at 512 Mulberry Ave, Selmer, TN 38375.
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