USDA farm loans

 

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USDA Farm Loans
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What is a USDA Loan?

A USDA Guaranteed Loan is Government insured 100% purchase loan. These Loans are serviced by direct lenders                         ...that meet federal guidelines and only offered in rural areas.

  
 

For immediate release: June 6, 2000

FARMERS IN 24 WISCONSIN COUNTIES ELIGIBLE FOR EMERGENCY LOANS

MADISON, WI, June 6, 2000 -- Doug Caruso, state director of USDA’s Farm Service Agency (FSA), announced today that emergency loans are now available to farmers in 24 Wisconsin counties that suffered significant physical damages due to severe storms that occurred from May 8, 2000 through May 12, 2000.

The Wisconsin Counties eligible for emergency loans are Adams, Brown, Calumet, Columbia, Dane, Dodge, Fond du Lac, Green, Green Lake, Iowa, Jefferson, Kewaunee, Lafayette, Manitowoc, Marquette, Outagamie, Portage, Rock, Sheboygan, Walworth, Waukesha, Waupaca, Waushara and Winnebago. Farmers in two Illinois counties - Stephenson and Winnebago - are also eligible under this declaration.

‘Farmers in these counties were hit hard with excessive rain, high winds and hail over a five-day period in early May," Caruso said. "These low-interest emergency loans will help affected farmers fix or rebuild essential farm buildings, dwellings, structures or machinery that was severely damaged in these storms,"

Emergency loans, at an interest rate of 3.75 percent, may be made to any family farmer with qualifying losses in the 24 Wisconsin counties and two Illinois counties named in Natural Disaster Declaration N654,

Approval is limited to applicants who suffered severe physical losses caused by:

• High winds on May 8, 2000 in Green, Dane. Iowa Lafayette and Rock, plus Stephenson and Winnebago counties in Illinois,

• Hail and high winds on May 11, 2000 in Dane, Dodge, Jefferson, Rock, Walworth and Waukesha.

• Hail on May 12, 2000 in Adams, Columbia, Green Lake, Marquette, Portage, Waupaca, Winnebago and Waushara,

• Excessive rain, high winds and hail on May 12,2000 in Brown, Ca!umet, Fond du Lac, Kewaunee, Manitowoc, Outagamie, Sheboygan, Winnebago.

Loan applications will be accepted through January 31, 2001.

Interested farmers in the designated counties should contact FSA personnel at their local USDA Service Center for more information and application forms.

United States Department of Agriculture
Farm and Foreign Agricultural Services