FSA ACCEPTING EMERGENCY LOAN APPLICATIONS

Clinton, Essex & Franklin Counties have been declared eligible for Farm Service Agency (FSA) disaster emergency loan assistance effective May 15, 2014 due to damages and losses caused by freezes which occurred December 22, 2013 through April 17, 2014. Family farmers who have suffered production losses of at least 30 percent of their production and physical losses due to freezes may be eligible for FSA loans.  Proceeds from crop insurance and any FSA programs are taken into account when determining eligibility for production losses. Losses must be supported with documented records. 

Under the FSA Emergency Loan Programs farmers may be eligible for production loss loans of up to 100 percent of their actual losses, or the operating loan amount needed to continue in business, or a maximum principal balance outstanding of $500,000, whichever is less. Farmers must be unable to obtain credit from private commercial lenders.  The current interest rate on Emergency Loans is 4.375%.

Application for loans under this emergency designation will be accepted until January 14, 2015.  The Clinton-Essex FSA office is located at 6064 Route 22, Plattsburgh, New York, 12901, telephone number 518 -561-4616. Franklin County producers can contact the FSA office at 151 Finney Boulevard, Malone, NY 12953 or by calling 518-483-2850.