USDA offers ag loans
(Des Moines)— Some local ag producers who lost property due to recent natural disasters may be eligible for U.S. Department of Agriculture (USDA) physical loss loans.
The Farm Service Agency (FSA) is offering the low-interest loans to agricultural producers in Nobles County, the primary damaged area, who incurred losses due to high winds and a tornado that occurred August 17 and 18, 2019. Approval is limited to applicants who suffered severe physical losses only, including the loss of buildings and livestock. Applications are due July 27, 2020.
Producers in the contiguous Minnesota counties of Cottonwood, Jackson, Murray, and Rock, along with Lyon and Osceola counties in Iowa, are also eligible to apply for emergency loans.
Physical loss loans can help producers repair or replace damaged or destroyed physical property essential to the success of the agricultural operation, including livestock losses. Examples of property commonly affected include essential farm buildings, fixtures to real estate, equipment, livestock, perennial crops, fruit and nut bearing trees, and harvested or stored crops and hay. More information is available by contacting your local FSA office.