Low-interest emergency physical loss loans available in several New York counties

U.S. Department of Agriculture Farm Service Agency Acting Administrator Chris Beyerhelm today announced that physical loss loans are available for five counties in New York. Farm operators who have suffered major physical losses caused by winter storms, excessive snow and high winds that occurred on March 8 through March 20, 2017, may be eligible for emergency loans.

This Administrator’s Physical Loss Notification has been issued for Albany, Monroe, Orleans, Otsego and Schoharie counties as the primary damaged area. Additionally, 13 New York counties are contiguous to this designated disaster area, making these producers also potentially eligible for programs based on this designation. The contiguous counties are: Chenango, Delaware, Genesee, Greene, Herkimer, Livingston, Madison, Montgomery, Niagara, Oneida, Ontario, Schenectady and Wayne.

Emergency loans may be made available to any applicant with a qualifying loss in the counties named above. Approval is limited to applicants who suffered severe physical losses only.

Physical loss loans may be made to eligible farmers and ranchers to repair or replace damaged or destroyed physical property essential to the success of the agriculture operation, including livestock losses. Examples of property commonly affected include essential farm buildings, fixtures to real estate, equipment, livestock, perennial crops, fruit and nut bearing trees, and harvested or stored crops and hay.

Producers in eligible counties have eight months from the date of the declaration to apply for loans for physical losses.

Please contact FSA for more information on loan eligibility and the application process. FSA office information is available at http://offices.usda.gov. Additional FSA disaster assistance program information is available at http://disaster.fsa.usda.gov.

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