Farmers can apply for emergency loans after flood damage

Aug. 15--U.S. Agriculture Secretary Sonny Perdue declated a natural disaster for North Carolina based on losses caused by flooding during Tropical Storm Alberto starting May 15, paving the way for local farmers who suffered losses to receive emergency loans from the U.S. Farm Service Agency.

As a result of the natural disaster, four Western North Carolina counties -- Buncombe, Henderson, Madison and Transylvania -- were declared primary disaster counties and are eligible for federal disaster assistance, the FSA announced Monday. This includes FSA emergency loans for eligible family farmers.

Along with those four counties, six others were named as contiguous counties, including Polk and Rutherford, where eligible family frmers may also qualify for FSA emergency loans, according to a news release from the FSA.

A fact sheet shared from the FSA says loans can be used to restore or replace essential property, pay all or part of production costs associated with the disaster year, pay essential family living expenses, reorganize the farming operation and refinance certain debts.

Farmers or ranchers are eligible for loans if they own or operate land located in one of the declared counties; are established family farm operators and have sufficient farming or ranching experience; are U.S. citizens or permanent residents; have an acceptable credit history; have suffered at least a 30-percent loss to livestock products, real estate or chattel property; are unable to recieve credit from commercial sources; have repayment ability; and can provide collateral.

Other requirements include keeping acceptable farm records and operating in accordance with a farm plan agreed to with local FSA staff. Borrowers may be required to participate in a financial management training program and obtain crop insurance.

The loans could reach a maximum of 100 percent of actual production or physical losses up to $500,000.

In the release, Gary Guinn with the FSA Hendersonville office says farmers in Henderson, Polk and Transylvania counties may apply for the loans for physical and production losses. Farmers have until April 8 to file an application at the local office, 61 Triple Springs Road in Hendersonville, from 7:30 a.m. to 4:30 p.m.

He said any farmer who suffered a physical and production loss should contact his office for additional information.

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