Farm Service Agency (FSA) State Executive Director, Milton Rogers, announced Friday that family farmers in Wheeler County, Neb. are eligible to apply for low interest Emergency (EM) loans due to physical and production losses caused by severe storms, tornadoes and flooding that occurred from May 22, 2008, through June 24, 2008.

This Nebraska county that was declared a disaster area became eligible for disaster assistance due to a Presidential Major Disaster Declaration signed on July 29, 2008.

In addition, six Nebraska counties became eligible for this assistance because they are contiguous to the primary designated county. These counties are:

Antelope
Boone
Garfield
Greeley
Holt
Valley

Emergency loan applications are available and must be submitted through the local FSA county office from any applicant who qualifies for a physical or production loss (at least a 30 percent reduction from normal) in a single enterprise from this disaster in these counties.

To qualify for an EM loan, an applicant must be an established family farm operator; provide evidence of having suffered a qualifying physical or production loss; be unable to obtain suitable credit from a source other than FSA.

The low interest loans may cover up to 100 percent of their actual production or physical losses, to a maximum amount of $500,000.

The loan applicants must show ability to repay the loan and the loan must be adequately secured.

FSA loans for production losses may be used to buy feed, seed, fertilizer, livestock or to refinance certain debts.

FSA loans for physical losses may be used to repair or replace the property that was damaged or lost.

The current interest rate for the EM loans is 3.75 percent. The deadline for submitting applications is March 30, 2009.

In addition to the Emergency (EM) Loan Program, the FSA has other Direct and Guaranteed Farm Operating and Farm Ownership Loan Programs, which can be considered in assisting farmers to recover from their losses.

Additional information about FSA Farm Loan Programs is available at www.fsa.usda.gov/dafl.