Meridian Star

Local News

December 3, 2012

Lauderdale Co. to receive FSA Disaster Loan assistance

MERIDIAN —      Emergency loans for farmers, ranchers and operators are available through the Lauderdale County Office of the Farm Service Agency, said Randy M. Saxon, FSA farm loan manager.

    On Nov. 2, portions of East Mississippi were declared a major disaster because of high winds, severe thunderstorms, and a tornado that occurred  Oct. 17 and 18.  Lauderdale County, which is adjacent to the disaster area, is eligible for Federal Disaster assistance pursuant to Section 321 (a) of the Consolidated Farm and Rural Development Act, according to a press release.

    Applications for assistance in the disaster-stricken areas will be accepted by FSA through July 2, 2013.

    Farmers qualifying for emergency loans may borrow up to 100 percent of their actual physical loss or the amount needed to restore their operation to its pre-disaster condition, whichever is less.  The new emergency loan and outstanding principal balance of any existing emergency loan owed by the applicant or any individual member of an entity cannot exceed $500,000.

    FSA emergency loans cover losses from designated disasters and are made to qualified farmers who cannot obtain credit from other lenders in the local area.

    For more information, call the Lauderdale County Office of the Farm Service Agency at 601-483-4100.

    Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD).

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