"A strong farm safety net, including emergency credit, is critical to sustain the success of American agriculture."
Emergency loan funds may be used to:
Emergency loans can be made to farmers and ranchers who own and operate lands in a county declared by the President or designated by the Secretary of Agriculture as a disaster area. Farmers in adjacent counties may also be eligible.
Producers can borrow up to 100 per cent of actual production or physical losses up to a maximum of $US500,000.
Terms of the loans include an interest rate of 3.75 per cent and repayment over a period of one to 40 years depending on the nature of the loss and the collateral available to secure the loan.