Indiana Ag Connection - USDA Announces Low-Interest Physical Loss Loans for Indiana Producers Affected by March Lightening Strikes

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USDA Announces Low-Interest Physical Loss Loans for Indiana Producers Affected by March Lightening Strikes
Indiana Ag Connection - 06/07/2023

The United States Department of Agriculture (USDA) has recently declared the availability of low-interest physical loss loans to support farmers in Indiana who have suffered from the impacts of natural disasters. These loans, administered through the USDA's Farm Service Agency (FSA), aim to help producers repair or replace damaged or destroyed essential physical assets crucial to their agricultural operations, including livestock losses.

The triggering disaster in Indiana that qualifies for these loans is lightning strikes that occurred on March 25 and March 26, 2023. Producers in Delaware County are eligible to apply for these loans, along with neighboring counties such as Blackford, Grant, Henry, Jay, Madison, and Randolph.

The loans cover a wide range of affected property, including farm buildings, real estate fixtures, equipment, livestock, perennial crops, fruit and nut trees, and harvested or stored crops and hay. The application deadline for these loans is set for January 5, 2024.

To explore program or loan options, farmers can utilize the resources available on farmers.gov, such as the Disaster Assistance Discovery Tool, the Disaster Assistance-at-a-Glance fact sheet, and the Loan Assistance Tool. For further assistance, including filing a Notice of Loss or obtaining information about available programs, affected producers are encouraged to contact their local USDA Service Center.

The USDA is committed to providing equitable support to agricultural producers and plays a vital role in helping them recover from natural disasters. By offering low-interest physical loss loans, the USDA aims to aid Indiana farmers in restoring their agricultural operations and fostering resilience in the face of adversity.

It is important to note that the details and availability of these loans may change over time. Therefore, interested individuals are advised to refer to the USDA's official announcements and contact their local USDA Service Centers for the most accurate and up-to-date information regarding loan availability and application procedures.

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