The Corson, Dewey, Meade, Perkins and Ziebach County FSA offices would like to keep you informed of the following items important to USDA programs. If you have any questions please contact the Corson County office at 605-273-4506 ext 2, Dewey County office at 865-3522 ext 2, Meade County at 347-4952 ext 2, Perkins at 244-5222 ext 2 or Ziebach County at 365-5179.
DATES TO REMEMBER:
NOTICE OF LOSS: REPORT LOSS WITHIN 15 DAYS OF OCCURRENCE ALL CROPS AND GRASSES; LIVESTOCK LOSSES: FILE NOTICE OF LOSS THE EARLIER OF 30 CALENDAR DAYS OF WHEN THE LOSS WAS APPARENT; February 28 – General CRP signup ends; February 29 – deadline to sign LIP application for payment and provide documentation; March 15 – deadline to obtain NAP coverage.
Higher Limits Now Available on USDA Farm Loans
Higher limits are now available for borrowers interested in USDA’s farm loans, which help agricultural producers purchase farms or cover operating expenses. The 2018 Farm Bill increased the amount that producers can borrow through direct and guaranteed loans available through USDA’s Farm Service Agency (FSA) and made changes to other loans, such as microloans and emergency loans.
Key changes include:
• The Direct Operating Loan limit increased from $300,000 to $400,000, and the Guaranteed Operating Loan limit increased from $ 1.429 million to $1.75 million. Operating loans help producers pay for normal operating expenses, including machinery and equipment, seed, livestock feed, and more.
• The Direct Farm Ownership Loan limit increased from $300,000 to $600,000, and the Guar-anteed Farm Ownership Loan limit increased from $1.429 million to $1.75 million. Farm ownership loans help producers become owner-operators of family farms as well as improve and expand current operations.
• Producers can now receive both a $50,000 Farm Ownership Microloan and a $50,000 Operating Microloan. Previously, microloans were limited to a combined $50,000. Microloans provide flexible access to credit for small, beginning, niche, and non-traditional farm operations.
• Producers who previously received debt forgiveness as part of an approved FSA restructuring plan are now eligible to apply for emergency loans. Previously, these producers were ineligible.
• Beginning and socially disadvantaged producers can now receive up to a 95 percent guarantee against the loss of principal and interest on a loan, up from 90 percent.