Daily Archives: August 6, 2012

2 posts

USDA Reduces Emergency Loan Rate for 2012 Drought from 3.75% to 2.25%

On July 11, 2012, Agriculture Secretary Vilsack announced that the USDA was reducing the interest rate on Emergency Loans through the USDA Farm Service Agency from 3.75% to 2.25%.

Farmers in disaster-designated counties are eligible to borrow emergency loans for up to the value of their disaster losses. While emergency loans are one of the primary modes of disaster assistance, farmers must still show eligibility and repayment ability in order to qualify.