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Northwest Iowa Dairy Outlooks

A local discussion of current science and issues concerning dairying in northwest iowa

Applications for emergency farm loans for losses caused by the combined effects of drought occurring from March 1, 2010 through December 31, 2010 are being accepted at the Farm Service Agency office in Iowa Park or Vernon. Wichita County is one of 123 counties in Texas recently named by the Secretary of Agriculture eligible for loans to cover part of actual production and/or physical losses resulting from drought during the covered dates.

FSA Farm Loan Manager Kelly Boone in Vernon, noted that farmer may be eligible for loans of up to 100 percent of their actual losses or the operation loan needed to continue the agriculture business, whichever is less. For farmers unable to obtain credit from private commercial lenders, the interest rate is 3.75 percent.

Generally, a producer must have suffered at least a 30 percent loss of production to be eligible for an FSA emergency loan. Farmers participating in the Federal Crop Insurance program will have to consider proceeds from those programs in determining their loss.

Loans applications will be accepted until November 28, 2011, but farmers should apple as soon as possible. Delays in applying could create backlogs in processing, with possible delays into the new farming season.

The FSA office in Wichita County is located at 402 N. Wall Street, Iowa Park, phone 940.592.4147.

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