USDA offers loans for ag producers
Minnesota agricultural producers who lost property due to recent natural disasters may be eligible for U.S. Department of Agriculture physical loss loans, according to a press release. The Farm Service Agency offers low-interest loans to agricultural producers who incurred losses due to recent natural disasters. Approval is limited to applicants who suffered severe physical losses only, including the loss of buildings and livestock. Applications are due by March 1.
“Minnesota’s hardworking ag producers feed our neighbors, the nation and the world,” said State Executive Director Joe Martin. “When they suffer losses because of extreme weather, helping them get back on their feet is important. We encourage those affected to reach out to their local USDA Service Center to apply for these emergency loans.”
Physical loss loans are available to eligible agricultural producers in Freeborn County who suffered losses due to high 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.
High winds and hail
Physical loss loans are available to eligible agricultural producers in Lincoln County who suffered losses due to high winds that occurred on June 4. Producers in the contiguous Minnesota counties of Lyon, Pipestone and Yellow Medicine — along with Brookings, Deuel and Moody counties in South Dakota — 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.
For more information on FSA disaster assistance programs or to find your local USDA Service Center, visit farmers.gov/recover.