Codington County Producers Eligible for Emergency Loans After Drought and Heat

Northeast Radio SD News – Watertown, SD - Agricultural producers in Codington County are now eligible to apply for low-interest emergency loans to help recover from drought and heat-related losses.

The Secretarial Disaster Designation process declared Codington County a contiguous disaster area due to drought and heat. Under this designation, producers who have operations in any primary or contiguous county qualify to apply for emergency loan assistance. Under this designation, contiguous counties also become eligible.

The emergency loans are designed to help producers recover from production and physical losses caused by drought, flooding, other natural disasters, or quarantine.

Loan Terms and Application Window

Eligible operators have eight months from the disaster declaration date to submit an application for emergency loan assistance.

According to the release, the Farm Service Agency (FSA) will evaluate each loan application on its own merits. Reviewers will take three main factors into account when considering applications:

·         The extent of losses

·         Security available

·         Repayment ability

Qualified applicants can borrow up to 100 percent of their actual production or physical losses, up to a maximum loan amount of $500,000.

How to Apply in Codington County

Producers seeking more information or looking to start an application can contact the Codington County USDA Service Center at 605-886-8202, extension 2, or visit fsa.usda.gov.