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Emergency loans now available for Guam producers
HONOLULU, Hawaii—Producers in Guam, who were negatively impacted by Tropical Storm Halong during the period of July 28-31, 2014, may be eligible for emergency loans through the U.S. Department of Agriculture Farm Service Agency. Eligible producers can borrow up to 100 percent of actual production or physical losses to a maximum amount of $500,000 at a low interest rate. Deadline to apply is May 10, 2015.
Speaking on behalf of FSA, Assistant Farm Loan Manager Fred San Nicolas said, “The emergency loan is a means to help producers get back on their feet and operate at pre-disaster conditions. This loan program is part of FSA’s mission to help individuals to become successful agricultural business owners. Interested applicants are encouraged to call our office to discuss their available options.”
The availability of the Emergency Loan Program was triggered by the Presidential Disaster Declaration, which makes federal funding available to the Territory of Guam and eligible local governments and certain private non-profit organizations on a cost sharing basis for emergency work and the repair or replacement of facilities damaged by Tropical Storm Halong. Federal funding is also available on a cost-sharing basis for hazard mitigation measures for the Territory of Guam.
For more information about Emergency Loans, contact the FSA Guam County Office at 300-8552 or visit the FSA’s website at www.fsa.usda.gov/hi. (USDA)
