Taos County, along with 20 other counties in the state, was declared a primary disaster area by the USDA back in March, and farmers and ranchers have until November to apply for loans to help recover …
Taos County, along with 20 other counties in the state, was declared a primary disaster area by the USDA back in March, and farmers and ranchers have until November to apply for loans to help recover from the impacts of last year's worrying drought.
"This natural disaster area designation allows [the Farm Security Administration] to extend much-needed emergency credit to producers recovering from natural disasters," read a press release from the USDA.
The FSA has distributed more than $508 million in loans and benefits in New Mexico over the last five years.
"Emergency loans can be used to meet various recovery needs including the replacement of essential items such as equipment or livestock, reorganization of a farming operation or the refinance of certain debts," read the release.
"FSA will review the loans based on the extent of losses, security available and repayment ability," it read.
Producers can borrow up to $500,000. To be eligible, a producer must have "suffered at least a 30 percent loss in crop production or a physical loss to livestock, livestock products, real estate or chattel property," among other requirements.
Visit farmers.gov/recover for more information.
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