Emergency Loans Available For Farms Damaged By Nappanee Tornado
Posted
Tim Robertson-trobertson@timesuniononline.com
Help is available for farmers whose property was damaged by the Oct. 18 tornado that touched down in the Nappanee area.
The Farm Service Agency is taking applications for emergency loans for those who suffered severe physical losses caused by the EF3 strength storm.
The U.S. Department of Agriculture, acting through the Farm Service Agency, designated Elkhart County as a primary disaster area Dec. 20. Kosciusko, LaGrange, Marshall, Noble and St. Joseph counties also are included in the declaration because they are contiguous to Elkhart County.
Farmers in these counties who suffered damage as a result of the disaster may apply for assistance to restore their operation to its pre-disaster condition. Farm Service loan manager Thomas Cleveland said applicants must make the majority of their annual income from their farming operation in order to be eligible for a loan.
"The key to our eligibility is that they cannot get credit elsewhere," said Cleveland. "It's for those farmers who suffered physical loss and insurance isn't enough to cover their losses and their existing creditor can't help them. We're there to help them cover that."
The terms for the loans vary according to the nature of the damage, available security and repayment ability.
For more information in Elkhart or Kosciusko counties, call 574-267-7445, Ext. 114. In Marshall or St. Joseph counties, call 574-772-3066.
