Minnesota agricultural producers who lost property due to recent natural disasters may be eligible for U.S. Department of Agriculture physical loss loans, USDA says.
The Farm Service Agency offers these low-interest loans to agricultural producers who incurred losses due to recent natural disasters. Approval is limited to applicants who suffered severe physical losses only, including the loss of buildings and livestock. Applications are due by May 3, 2021.
According to USDA:
- Physical loss loans are available to eligible agricultural producers in Goodhue County who suffered losses due to hail and high winds that occurred on Aug. 8 through Aug. 9, 2020. Producers in the contiguous Minnesota counties of Dakota, Dodge, Olmsted, Rice and Wabasha, along with Pepin and Pierce counties in Wisconsin, are also eligible to apply for emergency loans.
- Physical loss loans are available to eligible agricultural producers in Yellow Medicine County who suffered losses due to excessive rain, high winds and hail that occurred on Aug. 8, 2020. Producers in the contiguous Minnesota counties of Chippewa, Lyon, Lac Qui Parle, Redwood, Lincoln and Renville, along with Deuel County, S.D., are also eligible to apply for emergency loans.
- Physical loss loans are available to eligible agricultural producers in Washington County who suffered losses due to hail, high winds and a tornado that occurred July 17 through July 18, 2020. Producers in the contiguous Minnesota counties of Anoka, Chisago, Dakota and Ramsey, along with Pierce, Polk and St. Croix counties in Wisconsin, are also eligible to apply for emergency loans.
Physical loss loans can help producers repair or replace damaged or destroyed physical property essential to the success of the agricultural operation, including livestock losses. Examples of property commonly affected include essential farm buildings, fixtures to real estate, equipment, livestock, perennial crops, fruit and nut bearing trees, and harvested or stored crops and hay.
More information on FSA disaster assistance programs or to find a local USDA Service Center visit
farmers.gov/recover
.
