FSA Notes

FSA Notes By Keith L. Zanter
Clay County FSA Office Reporting County Disaster Conditions When physical and/or production losses occur, producers are asked to contact their local FSA officials to provide them with accurate, detailed information.  Local FSA officials must complete USDA Flash Reports and forward them to the SD State FSA office in Huron.  The State Office then forwards them to Washington, DC. These reports are used when local, state and Washington officials make requests for disaster declarations and other emergency situations.  Situations to report include: loss of livestock, crop loss, low yields, hay and feed shortages, flooding, drought, hail, storms causing damage to buildings, crops and livestock, buildings collapsing due to snow and any other situations that affect the profitability and livelihood of rural South Dakotans. Farm Storage Facility Loans (FSFL) FSFL loans are for new construction, expansion of existing facilities, or permanent drying or grain handling equipment based on eligibility.  Farm storage facility loans are for seven years at a fixed interest rate (based on the interest rate in effect at the time the loan is approved) for up to 85 percent of the cost of the facilities.  Applicants must show eligibility for additional storage, based on three crop years-reported acres and two years of production. You may not accept delivery or begin site preparation prior to approval. Producers must provide the following: • Current financial statement and cash flow showing repayment ability • $45.00 non refundable application fee  • 15 percent cash down payment • Crop insurance on all FSFL crops • Insurance required on structure with CCC listed as loss payee • Credit report will be ordered and must show a satisfactory credit rating • Applicant must not be delinquent on any Federal debt.  April 2009 interest rate is 2.50 percent.  Direct and Guaranteed Loans The Farm Service Agency is committed to providing family farmers with loans to meet their farm credit needs.  If you are having trouble getting the credit you need for your farm, or regularly borrow from FSA, direct and guaranteed loans are available now.  Ask your lender about an FSA loan guarantee if you've had a setback and your lender is reluctant to extend or renew your loan. Loan funds can be made available.  Producers are encouraged to apply early so that a loan can be processed and funded in a timely manner. FSA lends money and provides credit counseling to eligible applicants who operate family-sized farms and who are temporarily unable to obtain private, commercial credit.  Several types of loans are offered through the Guaranteed and Direct Loan Programs:  Farm Ownership, Farm Operating, Youth Loans and Emergency Loans. Most of our loan programs have special funding available for minority, female and beginning farmers. FSA employees will help you complete the necessary application and other forms, and help you understand what information is required, where to find it or who to contact to get it.  To find out more about FSA loan programs, contact the county office staff. The United States Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or part of an individual's income is derived from any public assistance programs.  (Not all prohibited bases apply to all programs.)  Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA's TARGET Center at 202-720-2600 (voice and TDD). To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (800) 795-3272 (voice) or (202)-720-6382 (TDD).  USDA is an equal opportunity provider and employer.

Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>