Low Interest Emergency Physical Loss Loans Available for Producers in 39 Illinois Counties

[May 12, 2022]     Agricultural producers in Illinois Counties who lost property due to recent natural disasters are eligible for physical loss loans from the U.S. Department of Agriculture (USDA). USDA’s Farm Service Agency (FSA) offers these loans for losses caused by tornadoes, high winds and lightning that occurred December 10, 2021 through December 11, 2021.

FSA is offering these low-interest emergency loans to producers with a qualifying loss. Approval is limited to applicants who suffered severe physical losses only, including the loss of buildings and livestock. The deadline for producers in designated primary and contiguous counties to apply for loans for physical losses is October 4, 2022.

Physical loss loans can help producers repair or replace damaged or destroyed physical property essential to the success of the agricultural operation, including livestock losses. Examples of property commonly affected include essential farm buildings, fixtures to real estate, equipment, livestock, perennial crops, fruit and nut bearing trees, and harvested or stored crops and hay.

Physical loss loans are subject to the availability of credit from conventional lenders. The interest rate is currently fixed at 3.25%. The loan term is determined by the collateral and repayment ability.

Designated Eligible Primary Illinois counties are:
 

Bond	Edgar	Menard	Shelby
Cass	Fayette	Montgomery	Tazewell
Coles	Madison	Moultrie	Woodford

Contiguous counties also Eligible for Illinois are:
 

Brown	Douglas	McLean	Peoria
Champaign	Effingham	Macon	Piatt
Christian	Fulton	Macoupin	St.Clair
Clark	Jersey	Marion	Sangamon
Clay	LaSalle	Marshall	Schuyler
Clinton	Livingston	Mason	Vermillion
Cumberland	Logan	Morgan

Please contact your local FSA office for more information on loan eligibility and the application process. FSA office information is available at http://offices.usda.gov. Additional FSA disaster assistance program information is available at disaster.fsa.usda.gov.

[Illinois Farm Service Agency]