Emergency loan applications being taken

Applications for emergency farm loans for losses caused by drought, high winds, static electricity, and heat that occurred from June 1, 2003, are being accepted at the Farm Service Agency (FSA) office located at 321 Sully Street in Clarendon, Larry Goetze said.

Donley County is one of seven in Texas recently named by Secretary of Agriculture Ann Veneman eligible for loans to cover part of  actual production losses resulting from the heat, drought, high winds, and static electricity.

Goetze said farmers may be eligible for loans of up to 100 percent of their actual losses or the operating loan needed to continue the agricultural business, whichever is less.  For farmers unable to obtain credit from private commercial lenders, the interest is 3.75 percent.

“As a general rule, a farmer must have suffered at least a 30 percent loss of production to be eligible for an FSA emergency loan,” Goetze said.  Farmers participating in the Federal Crop Insurance program will have to consider proceeds from those programs in determining their loss.

“Applications for loans under this emergency designation will be accepted until July 6, 2004, but farmers should apply as soon as possible.  Delays in applying could create backlogs in processing, with possible delays into the new farming season,” said Goetze.

The FSA office in Clarendon is open from 8 a.m. to 4:30 p.m., Monday through Friday.