Farmers and ranchers in 14 Michigan counties and a tribal area are eligible to apply for emergency farm loans following the presidential major disaster designation declared Aug. 2 in response to severe storms and flooding in that area.
Bay, Gladwin, Isabella and Midland counties and the Saginaw-Chippewa Tribe Isabella Reservation were declared primary disaster areas due to flooding. Additionally, Arenac, Clare, Gratiot, Mecosta, Montcalm, Ogemaw, Osceola, Roscommon, Saginaw and Tuscola counties were declared contiguous disaster areas.
Under these designations, producers with operations in any primary or contiguous county are eligible to apply for low-interest emergency loans. Emergency loans help producers recover from production and physical losses due to drought, flooding and other natural disasters or quarantine.
Producers have eight months from the date of the declaration to apply for emergency loan assistance. The Farm Service Agency will consider each loan application on its own merits, taking into account the extent of losses, security available and repayment ability. Producers can borrow up to 100% of actual production or physical losses, to a maximum amount of $500,000.
For more information about emergency loans, contact your local FSA office or visit fsa.usda.gov.