Emergency Farm Loans - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Emergency Farm Loans

Posted: Updated:
The Farm Service Agency is now helping local farmers by accepting applications for Emergency Farm Loans.

"If there is a 30-percent loss or more then they (farmers) would be eligible.  We also would take out crop insurance proceeds," said Farm Service Agency, Farm Loan Officer, Matt Eakin.

Since it is a loan, the amount of funds given to farmers will vary from farmer to farmer.

"A lot of these Wheat Emergency Loans don't come out to be a whole lot because they've got the insurance that covers a lot of it.  Then there are some guys where their crops aren't insurable and it comes out to be quite a bit," said Eakin.

Wheat farmer, Ronnie Wilson knows about the emergency farm loan all too well.

"Several years ago, I had to take one out.  We had some other kind of disaster and I was a younger farmer and it really helped me out.  In all honesty, it probably saved me because I had obligations and I couldn't meet them without that," said Wilson.

The ongoing drought continues to affect Wilson's crops, but he believes the Emergency Farm Loan is beneficial.

"These guys will be able to make a loan at a small interest rate and keep on going.  Maybe the drought will break and then we can make normal crops and then everyone would be happy," said Wilson.

Happiness that will come from the help of the F.S.A.

Farmers who had damages and losses caused by the drought from April 1, 2013 through October 31,2013 in the natural disaster area counties such as, Archer, Baylor, Clay, Jack, Knox, Montague, Wichita, Wilbarger and Wise are eligible for the Emergency Farm Loan. 

The deadline to apply for the Emergency Farm Loan is December 23rd.

The FSA Office is located at 5015 College Dr., Room 1 in Vernon, Texas.

Taylor Barnes, Newschannel 6