USDA Emergency Farm Loan
USDA Emergency Farm Loan
The Emergency Farm Loan program helps producers who suffer qualifying farm related losses directly caused by the disaster. Funds may be used to restore or replace essential property, pay all or part of production costs associated with the disaster year, pay essential family living expenses, reorganize the farming operation or refinance certain debts. The maximum loan amount is $500,000.
Am I eligible?
- For production losses, a 30% reduction in a primary crop in a designated or contiguous county is required
- Established farmer and either the owner-operator or tenant-operator of the farm at the time of the disaster
- Must be able to provide declinations of credit from organized commercial lending institutions
- The loss and/or damage to the farm operation must be directly attributed to the stated reason of the disaster declaration
- Crop insurance is not required at the time of the loss but will be a requirement for the coming year in order to receive a loan