State Representative Darren Bailey (R-Xenia) is reminding farmers in his area about the Farm Service Agency (FSA) low-interest loans available to those who qualify. The U.S. Agriculture Secretary this week declared an agricultural disaster in every Illinois county immediately triggering availability of low-interest loans.
“My hope is that most farmers in our area have been able to get their crops in and are bouncing back from the early flooding and then the extreme heat we’ve experienced so far this year,” said Rep. Darren Bailey, a member of the Agriculture & Conservation Committee. “But for those farmers who have experienced a 30% or more reduction in production or reduced prices from damaged crops because of these recent disasters may qualify for assistance.”
The emergency loan program is triggered when a natural disaster is designated by the Secretary of Agriculture or a natural disaster or emergency is declared by the President. These loans help producers who suffer qualifying farm related losses directly caused by the disaster in a county declared or designated as a primary disaster or quarantine area. Also, farmers located in counties that are contiguous to the declared, designated, or quarantined area may qualify for emergency loans.
“These low-interest loans may be used to restore or replace essential property, cover production costs, pay essential family living expenses, reorganize the family farm or refinance certain non-real estate operating debts,” added Rep. Bailey.
For more information, visit the USDA web site by clicking here.