Emergency farm loan applications being accepted
May 6, 2014 at 12:06 a.m.
Applications for emergency farm loans are being accepted at the Farm Service Agency office in Wharton, Gail A. Hoskins said Monday.
Victoria County is one of 249 counties in Texas named by Secretary of Agriculture Tom Vilsack eligible for loans to cover part of actual production and physical losses resulting from the drought, according to the news release.
Farmers may be eligible for loans of up to 100 percent of their actual losses or the operating loan needed to continue the agricultural business, whichever is less, said Hoskins. For farmers unable to obtain credit from private commercial lenders, the interest rate is 3.125 percent.
"A farmer must have suffered at least a 30 percent loss of crop production or suffered any physical loss to be eligible," Hoskins said.
Applications for loans under this emergency designation will be accepted until Dec. 23, but farmers should apply as soon as possible.
The office is open from 8 a.m. to 4:30 p.m. Monday through Friday. For more information, call the office at 979-532-0567, visit the office at 9726 U.S. Highway 59 in Wharton or visit the website at disaster.fsa.usda.gov.