Weather Forecast


FSA loans available for tornado victims

Email Sign up for Breaking News Alerts
News Perham,Minnesota 56573
Perham Focus
(218) 346-5901 customer support
FSA loans available for tornado victims
Perham Minnesota 222 2nd Avenue SE 56573

The Farm Service Agency (FSA) is offering emergency loans due to losses caused by severe storms, tornadoes and flooding occurring June 17, 2010.


President Obama declared a Presidential Major Disaster for seven counties in Minnesota, which include Otter Tail and Wadena counties.

Hubbard, Becker, Todd, Cass and Clearwater counties are eligible as contiguous counties.

Loans are available at a 3 ¾ percent interest rate, based on the actual loss (less insurance) due to the disaster events, and farmers must meet the eligibility requirements for a loan including:

•Be a citizen or legal resident alien

•Have legal capacity

•Be unable to obtain sufficient credit elsewhere, including an FSA guaranteed loan

•Be the operator of a family size farm

•Not be delinquent on any federal debt

Additional requirements include satisfactory credit history, demonstrate repayment ability and provide sufficient security for the loan.

Deadline to apply is March 2, 2011.

Obtain applications and additional information at USDA Service Centers.