The emergency loan program aims to help family farmers recover from losses resulting from natural disasters. These loans can be used to:
- repair or replace buildings or other structures
- purchase livestock and equipment
- pay essential farm operating and family living expenses
- refinance debt, or
- repair or replace essential household contents damaged in the disaster.
To qualify for an Emergency Loan, you must be a U.S. citizen or permanent resident who owns or controls farm/ranch land, who has suffered production or property losses from a natural disaster (including severe drought) and who has been denied a loan by a commercial lender. Applicants must also have an acceptable credit history; not have received debt forgiveness from the Agency; and not have had any controlled substance convictions. For production loss loans, the applicant must have suffered at least a 30 percent loss in yield. Emergency loans may also be made to replace damaged farm/ranch property.
Applications for emergency loans must be received within 8 months of the county's disaster or quarantine designation date. To apply for an emergency loan, applicants must submit an application form (FSA-410-1) and business plan, in addition to other forms required to determine eligibility.
You may obtain additional information through your local FSA office or USDA service center. To locate the office nearest you, visit: http://offices.sc.egov.usda.gov/locator/app?state=us&agency=fsa
The Business and Cooperative Programs website is available at: