Farmers in the lower Midwest are hurting from the bad weather this summer. Areas in and around Kansas City were officially declared a disaster area after flash flood damage, and also the U.S.D.A. has announced it will do all it can to help. Many farmers need a cash advance because of the damaged crops. This is why emergency loans are likely to be made available. The loans can be filed to receive in the next few months. The loans rate of interest has been determined. The rate is low. Excessive rainfall and a brutal tornado season have caused extensive damage throughout the Midwest.
Summer heavy rains
There has been a lot of rain in the Midwest. There was much more than normal. The Oklahoma tornadoes and Milwaukee floods have been really bad as they were storms from the Gulf region to the Great Lakes. Areas around Kansas City are seriously damaged also. The U.S. Department of Agriculture announced six of seven counties in the Kansas City, Mo., metro area natural disaster areas, and those counties could use some extra cash to help rebuild.
Farms experience extensive damage
The weather has hurt the summer crops of the farms in the area. According to the Kansas City Business Journal, wind, rain, and flash flood damage has wrecked a good portion of this summer’s crops, and emergency cash loans could be made accessible. Farmers who wish to take out these low cost loans can file for loans through the Department of Agriculture. 100 percent of losses can be covered with the 3.75 interest rate. People can borrow money in amounts up to $ 500,000. Not counting the six Kansas City counties, disaster has been declared on 55 counties in Missouri and 47 counties in Oklahoma.
Mother Nature taking money away
It has been said more than once that Mother Nature could be a cruel mistress. Too much rain and wind can wreak havoc in agricultural areas, and that can leave farmers — the people who make sure all of us can eat — in need of cash until payday that is harder to come by these days.
Discover more information on this subject
Business Journal
bizjournals.com/kansascity/stories/2010/08/23/daily12.html
No comments:
Post a Comment