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Emergency Loans

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

US Federal Government Agency (see all agencies)
Department of Agriculture , Farm Service Agency
CFDA #: 10.404

Possible uses and use restrictions...

Loan funds may be used to repair, restore, or replace damaged or destroyed farm property (real and chattel) and supplies which were lost or damaged as a direct result of a natural disaster; under certain conditions, refinance secured and unsecured debts made necessary by the disasters; finance adjustments in the farming, ranching or aquaculture operation(s) determined necessary to restore or maintain applicants' operations on a sound financial basis equivalent to their predisaster potential. The total of all actual loss loans is based on actual dollar value of production and physical losses. Loans are made at 3.75 percent interest, with a maximum limit of 80 percent of the actual production loss and 100 percent of the actual physical loss, or $500,000 total indebtedness. Loans are made in counties: (1) Named by the Federal Emergency Management Agency as being eligible for Federal assistance under a major disaster or emergency declaration by the President; (2) designated as natural disaster areas by the Secretary of Agriculture; and (3) designated by the FSA Administrator for severe physical losses, only, as a result of a natural disaster.