East Texas farmers are eligible for loans after disaster declaration

Published 5:39 pm Tuesday, March 21, 2017

Farmers in five East Texas counties may be eligible for emergency loans from the Farm Service Agency to cover damages associated with a drought that began in November 2016.

Farmers in Upshur, Gregg, Rusk, Smith and Van Zandt are eligible for loans to cover part of actual production and/or physical losses resulting from the disaster, according to a Farm Service Agency news release.

The farmers may be eligible for loans of up to 100 percent of their actual losses or the operating loan needed to continue the agricultural business, whichever is less. For farmers unable to obtain credit from private commercial lenders, the interest rate is 3.875.

Applications for loans under this emergency designation will be accepted through Oct. 23. However, farmers should apply as soon as possible.

The FSA office is located at 4209 Republic Drive in Tyler. Call 903-405-5676 or visit http://disaster.fsa.usda.gov for more information.

– Melissa McTee