Posted: Aug 28, 2013 9:44 PM by KBZK News
BOZEMAN - USDA has designated both Gallatin and Park counties as primary county natural disaster areas due to damages and losses caused by the recent hail storm.
A total of 48 out of the 56 Montana counties are currently designated as disaster areas, USDA Montana Farm Service Agency State Executive Director Bruce Nelson said.
The Park County primary disaster designation dated Wednesday, August 28th, 2013, resulted in five Montana counties being named as contiguous disaster counties. These counties are- Carbon, Gallatin, Meagher, Stillwater and Sweet Grass. The designation is for damage and losses caused by hail, high winds and severe storms that occurred earlier this month.
As part of the Gallatin County primary disaster designation dated Friday, August 23rd, 2013, five Montana counties were named as contiguous disaster counties: Broadwater, Jefferson, Madison, Meagher and Park. This designation is due to damage and losses caused by a hailstorm that occurred on August 1st, 2013.
Montana counties that have been designated by USDA as primary or contiguous disaster areas make all farm and ranch operators eligible to apply for low-interest FSA emergency loans provided eligibility requirements are met.
Farmers and ranchers in eligible counties have eight months from the date of the declaration to apply for loans to help cover part of their actual losses. FSA will consider each loan application on its own merits, taking into account the extent of losses, security available and repayment ability.
The Emergency Loan rate is at 2.875 percent for the month of September 2013. The maximum emergency loan amount is $500,000.
Emergency loan funds can be used to restore or replace essential property, pay all or part of production costs associated with the disaster year, pay essential family living expenses or to refinance certain debts, excluding real estate.
The Disaster Designation report is available here.
Producers interested in applying for an emergency or other farm loan are advised to contact their local FSA office to set up an appointment with the Farm Loan Program staff serving their area as well as visit this website.