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Emergency loans now available

Emergency loans now available

Posted: Tuesday, November 11, 2008 8:45 pm

Emergency loans for farmers, ranchers and operators are available through the Obion County Office of the Farm Service Agency. Farm Service Agency’s state executive director Jamie H. Jenkins Ph.D. said this authority is pursuant to Secretarial Natural Disaster Determination S2796, of a major disaster in Tennessee, caused by drought which occurred Jan. 1, 2008, through the present. As a result of this major disaster, Obion County, as a contiguous county in Tennessee, is named as an area eligible for Federal disaster assistance pursuant to the provisions of Section 321 (a) of the Consolidated Farm and Rural Development Act. Applications for assistance in the disaster-stricken counties will be accepted by FSA through July 1, 2009, for production losses. FSA Emergency Loans cover losses from designated disaster and are made to qualified farmers who cannot obtain necessary credit from other lenders in the local area. Farmers qualifying for emergency loans may borrower up to 100 percent of their actual production loss, not to exceed a maximum of $500,000 or that amount actually needed, whichever is less. To obtain further information, contact Jim Madding, agriculture credit manager of the Farm Service Agency office located at 1216 Stad Ave. in Union City. Published in The Messenger 11.11.08

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