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Tuesday, August 4, 2020

USDA offers loans to ag producers – Albert Lea Tribune

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According to a press release, Minnesota agricultural producers who have lost property due to recent natural disasters may be eligible for U.S. Department of Agriculture physical loss loans. The Farm Service Agency offers low-interest loans to agricultural producers who have suffered losses due to recent natural disasters. Approval is limited to applicants who have suffered only severe physical losses, including loss of buildings and livestock. Applications are expected by March 1st.

“The hard-working Minnesota producers feed our neighbors, the nation and the world,” said state executive director Joe Martin. “When they suffer losses due to extreme weather conditions, it is important to help them get back on their feet. We encourage those affected to contact their local USDA service center to apply for these emergency loans. “

Strong winds

Loans for physical losses are available for eligible agricultural producers in Freeborn County who have suffered losses due to the strong winds that occurred on June 2. Producers in the contiguous Minnesota counties of Faribault, Mower, Steele and Waseca – along with Winnebago and Worth counties in Iowa – are also eligible to apply for emergency loans.

Strong winds and hail

Loans for physical losses are available for eligible agricultural producers in Lincoln County who have suffered losses due to the strong winds that occurred on June 4. Producers in the contiguous Minnesota counties of Lyon, Pipestone and Yellow Medicine – along with the counties of Brookings, Deuel and Moody in South Dakota – can also apply for emergency loans.

Loans for physical losses can help producers repair or replace damaged or destroyed physical properties essential for the success of the agricultural operation, including livestock losses. Examples of commonly affected properties include essential farm buildings, fixtures for buildings, equipment, livestock, perennial crops, fruit and nut trees, and harvests and hay collected or stored.

For more information on FSA’s disaster assistance programs or to find your local USDA service center, visit Google.gov/recover.

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