Dateline: August 14, 2003

FSA office taking emergency farm loan applications now

By Roger Estlack, Clarendon Enterprise

Applications for emergency farm loans for losses caused by drought that occurred January 1, 2002, and continuing are being accepted at the Farm Service Agency (FSA) office located at 321 Sully Street in Clarendon, 114 Oklahoma in Wheeler, or 2501 East Fredric in Pampa.

The Secretary of Agriculture recently named Donley, Wheeler, and Gray Counties eligible for loans to cover losses resulting from the drought.

FSA Farm Loan Manager Larry Goetze said farmers may be eligible for loans of up to 80 percent of their actual losses or the loan needed to continue in business, whichever is less. 

For farmers unable to obtain credit from private commercial lenders, the interest is 3.75 percent.

“As a general rule, a farmer must have suffered at least a 30 percent loss to be eligible for an FSA emergency loan,” Larry Goetze said.  “Insurance proceeds will have to be included in the figures in determining their loss.”

“Applications for loans under this emergency designation will be accepted until February 27, 2004, but farmers should apply as soon as possible.  Delays in applying could create backlogs in processing and possibly cover into the new farming season,” Goetze said.

FSA is authorized to provide disaster emergency loans to recognized farmers who work at and rely on farming for a substantial part of their living. 

The FSA offices in Clarendon, Wheeler, and Pampa are open from 8  a.m. to 4:30 p.m. Monday through Friday.