Chickasaw farmers eligible for disaster loans
CHICKASAW COUNTY – Emergency loans for farmers, ranchers and operators are available through the Chickasaw County Office of the Farm Service Agency following the April 28 storms that swept Northeast Mississippi.
According to James A. Love, FSA Farm Loan Manager, this authority is pursuant to Administrator Garcia’s declaration on May 12, 2014, of a major disaster in Mississippi caused by high winds, lightning, and tornadoes that occurred on April 28, 2014. Chickasaw County is contiguous to the primary natural disaster area.
Applications for assistance in the disaster-stricken county will be accepted by FSA through Jan. 12, 2015.
Farmers qualifying for emergency loans may borrow up to 100 percent of their actual physical 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.
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.
For details on this program contact, Roxie P. Brock, Farm Loan Technician for Farm Service Agency, at 662-456-1499 ext. 103.
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