Home 5 Ag Stories Physical Loss Loans Available for 11 counties in Iowa

Physical Loss Loans Available for 11 counties in Iowa

by Whitney Flach

Administrator for the Farm Service Agency, Val Dolcini has made physical loss loans available for 11 counties in Iowa. This Administrator’s Physical Loss Notification has been issued for primary damaged areas, which are Humboldt and Wright County. Nine Iowa counties are contiguous to this designated disaster area. The contiguous counties include Cerro Gordo, Franklin, Hamilton, Hancock, Hardin, Kossuth, Palo Alto, Pocahontas, and Webster.

John Whitaker State Executive Director of the United States Department of Agriculture’s Farm Service Agency says, “We run into situations where producers may not have insurance. This is something that is designated for those individuals.” He continued on by sharing that this is a different type of loan. “It’s different than other disaster type losses because a wind storm might not effect crops, but it could effect buildings and other structures.”

Farm operators who have suffered major physical losses caused by excessive rain, hail, high winds, lightening, and tornadoes that occurred from July 16, 2016 through July 17, 2016 may be eligible for emergency loans with low interest. Physical loss loans may be made to eligible for repair or replacement of damaged or destroyed physical property, including livestock losses, essential to the success of the farming operation. The Farm Service Agency may make Emergency Loans to allow families to return to their normal operations.

The final date for application submission is April 19, 2017. “If someone needs help, we are here to help them. We want to be help when a farmer needs it,” Whitaker says.