Storm Damage? Help is Available!

Was your farm affected by the devastating storms last week? The numbers from the damage are just starting to trickle in, but many farmers throughout the Mid-Atlantic area have experienced crop damage, loss of power and animal fatality. For those affected, Commissioner Matt Lohr from Virginia’s Department of Agriculture and Consumer Services suggests talking to your local Farm Service Agency (FSA) for help.

For contract livestock growers, an Operating Loan from FSA is one option available. “Eligible applicants may obtain direct loans for up to a maximum indebtedness of $300,000 and guaranteed loans for up to a maximum indebtedness of $1,214,000 (amount adjusted annually for inflation),”reports Lohr in an email this week to Virginia agricultural officials. Repayment terms may vary, but is usually between 12 months and seven years.

Other commodity groups may also be eligible for the FSA Emergency loans. These loans have a maximum amount of $500,000 and are available for up to 30 years, depending on the damage types and uses.

For both of these loans, and any federal assistance programs, the key is accurate records. It is important during this time to record exact amounts of losses and mortality records. Lohr writes, “In the event that the Livestock Indemnity Program (LIP) is included in the upcoming Farm Bill, accurate records during this time are essential for farmers to be compensated.”

For more complete information, be sure to contact your local FSA office or their website at www.fsa.usda.gov.