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Robert P. Ferrebee, West Virginia Farm Service Agency (FSA) State Executive Director, has announced the designation of ten counties in West Virginia for FSA Emergency (EM) Loans.
"The counties of Barbour, Clay, Doddridge, Gilmer, Harrison, Jackson, Jefferson, Marion, Taylor, and Tyler were designated for Emergency Loans by the Secretary of Agriculture because of damages caused by severe storms, tornadoes, flooding, mudslides, and landslides beginning June 3, 2008 and ending June 7, 2008," stated Ferrebee. "This designation was made to enable FSA to provide financial assistance to those farm families who suffered severe losses as a result of this disaster," he added.
"Public Law 98-258 provides for counties that are contiguous to another county that has been designated as a disaster area, to also be eligible for EM Loans," stated Ferrebee. Berkeley, Braxton, Calhoun, Fayette, Kanawha, Lewis, Mason, Monongalia, Nicholas, Pleasants, Preston, Putnam, Randolph, Ritchie, Roane, Tucker, Upshur, Wetzel, Wirt, and Wood Counties are contiguous to the designated counties and are therefore eligible for assistance," Ferrebee explained.
To be eligible for an Emergency Loan, the farmer must have suffered at least a 30% production loss or a physical loss, be able to evidence adequate repayment ability and be unable to obtain adequate credit from other sources. Loans to one operation are limited to $500,000 or the calculated production loss plus the physical loss, whichever is less. Loans are also limited to owners and/or operators of not larger than family-sized farming operations.
"Farmers in the above West Virginia Counties may apply for EM Loans up through February 19, 2008," added Ferrebee. "Applications should be filed in the FSA County Office which serves the county in which the farmer lives," he concluded.
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