10.404: Emergency Loans
Overview
Program Number
10.404
Status
Active
Last Modified
Sept. 21, 2022
Date Posted
Sept. 21, 2022
Objective
FSA provides emergency loans to help producers recover from production and physical losses due to drought, flooding, other natural disasters, or quarantine. The emergency loan program is designed to assist farming operations by improving their financial viability which will allow them to return to private sources of credit as soon as possible.
Type of Assistance
E - Direct Loans
Applicant Eligibility
General Eligibility for Emergency Loans
Emergency loans may be made to farmers and ranchers who:
I. Own or operate land located in a county declared by the President or designated by the Secretary of Agriculture as a primary disaster area or quarantine area. All counties contiguous to the declared, designated, or quarantined primary counties also are eligible for emergency loans. A disaster designation by the FSA Administrator authorizes emergency loan assistance for physical losses only in the designated and contiguous counties;
II. Are established family farm operators and have sufficient farming or ranching experience;
III. Are citizens or permanent residents of the United States;
IV. Have suffered at least a 30 percent loss in crop production or a physical loss to livestock, livestock products, real estate, or chattel property;
V. Have an acceptable credit history;
VI. Are unable to receive credit from commercial sources;
VII. Can provide collateral to secure the loan; and
VIII. Have repayment ability
Beneficiary Eligibility
Individual/Entity, Socially Disadvantaged (SDA)/Non-SDA; SDA applicant or farmer is an individual or entity who is a member of a socially disadvantaged group. SDA group is a group whose members have been subject to racial, ethnic, or gender prejudice because of their identity as members of a group without regard to their individual qualities. These groups consist of: American Indians or Alaskan Natives, Asians, Blacks or African Americans, Native Hawaiians or other Pacific Islanders, Hispanics, and women.
Related Programs
Additional Information
Grant Awards
Emergency Loans direct grants
Grant Opportunities