Applications for emergency farm loans for losses caused by the severe winter storms that occurred Dec. 24-25 are being accepted at the Farm Service Agency office located in Bonham.

Grayson County, along with surrounding counties were recently named by Secretary of Agriculture to be eligible for loans to cover part of actual production losses and physical losses resulting from the severe winter storm.

Fannin County Farm Loan Manager David Dunmon said farmers may be eligible for loans of up to 100 percent of their actual losses or the operating loan needed to continue the agricultural business, whichever is less. For farmers unable to obtain credit from private commercial lenders, the interest rate is 3.75 percent.

"As a general rule, a farmer must have suffered at least a 30 percent loss of production to be eligible for an FSA emergency loan," Dunmon said. Farmers participating in the Federal Crop Insurance program will have to consider proceeds from those programs in determining their loss.

"Applications for loans under this emergency designation will be accepted until Oct. 25, 2010 but farmers should apply as soon as possible," Dunmon said. "Delays in applying could create backlogs in processing, with possible delays into the new farming season."

FSA is a credit agency of the U.S. Department of Agriculture. It is authorized to provide disaster emergency loans to recognized farmers who work at and rely on farming for a substantial part of their living. Eligibility is extended to individual farmers who meet U.S. citizenship requirements and to farming partnerships, corporations or cooperatives in which U.S. citizenship requirements are met by individuals holding a majority interest.

The FSA office, 200 East 1st St., Bonham, is open from 8 a.m. to 4:30 p.m., Monday through Friday or farmers can call 903-583-2168.