Farm Service Agency (FSA) emergency loans are available to farmers in Crawford, Grant and Vernon counties who have suffered qualifying physical losses based upon damages and losses caused by severe storms, tornadoes, straight-line winds and flooding that occurred between July 19 and July 23.
Actual loss loans for production losses will be based upon the disaster year production compared to the previous three-year production history.
Actual loss loans for physical damages to property destroyed or damaged will be based upon the allowable cost associated with repairing or replacing the property destroyed or damaged.
Also, the damaged or destroyed property must be essential to the continuation of the operation. Interest rates for actual loss loans not to exceed $500,000 is currently three and three quarter’s percent (3.750 percent).
FSA is prohibited from making loans to applicants who can obtain credit elsewhere.
Farmers who feel they have sustained a qualifying loss and desire more information should check with the FSA office located at 220 Airport Road, Viroqua.
The deadline for filing applications is April 27, 2018.