MARCY — Fulton County has been declared eligible for Farm Service Agency, formerly Farmers Home, effective April 10, due to damages and losses caused by excessive precipitation, which occurred on July 23, 2018, and continuing, according to a news release.
Family farmers who have suffered qualifying production losses due to the excessive rain may be eligible for FSA loans. The insurance and any other compensation are taken into account when determining eligibility for production losses. The losses must be supported with documented records. Under the FSA Emergency Loan programs, farmers may be eligible for production loss loans up to $500,000 with a maximum principal balance outstanding of $500,000. The farmers must be unable to obtain credit from private commercial lenders. The interest rate on emergency loans is 3.75 percent.
The application deadline for loans is Dec. 10, to the FSA office, 9025 River Road, Room 201, Marcy, N.Y. 13403; (315) 736-3316, Ext. 2.