Emergency loans available to North Dakota farmers and ranchers

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Farmers and ranchers affected by flooding in the Souris River Valley may be eligible for low-interest emergency loans through USDA’s Farm Service Agency.  FSA’s emergency loans are specifically targeted toward established farm operators who have suffered significant losses due to a disaster and are unable to receive credit from commercial lenders.

“Emergency loans are a good option for farmers and ranchers that have struggled through the last couple winters and are now dealing with flooding problems,” said Aaron Krauter, State Executive Director for Farm Service Agency in North Dakota.  “Our farm loan programs are designed to get producers back on their feet, not only by providing the loan but by working to develop a farm plan and getting the borrower connected with a financial management training program.

Farmers or ranchers who suffer at least a 30% loss to production or had a physical loss to livestock, livestock products, or other farm property may be eligible for emergency loans.  Loan funds through FSA may be used to restore or replace essential property, pay production costs for the disaster year, reorganize the farming operation or refinance certain debts.

Source: USDA FSA ND office

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