OCR Text |
Show Livestock Loans Made Available to Established Producers Special livestock loans, authorized author-ized by recent legislation, are now available to eligible farmers and ranchers in this locality, it was announced by J. W. Atkin, supervisor of the Farmers Home Administration foi Iron County. Purpose of the U. S. Department Depart-ment of Agricuhure's new loans is to provide temporary credit to livestock producers to continue their operations, after suffering economic difficulties caused by the drop in cattle prices. Secretary of Agricultural Ezra Taft Benson has given top responsibility res-ponsibility for tnc new program to R. B. McLealsh, national administrator ad-ministrator of the Farmers Home Administration. FHA state and county offices will disburse the funds, collect the loans, and service ser-vice the accounts. Established producers of cattle, sheep, and goats may barrow if they cannot get the credit they need from customary sources, if they have good records of oper-' oper-' at ions, and if the credit would give them a reasonable chance ; to succeed. Loans may be used to buy or i produce feed, nav for crazing permits, rent farm buildings, pasture, and feed crop land; replace, re-place, hire or replair farm machinery ma-chinery and equipment, build and repair fences, move livestock to and from grazing places; repair re-pair or improve livestock and domestic water supplies; and pay essential living expenses and costs of maintaining farm and ranch buildings. Under the program, which expires ex-pires in July of 1955, loans bear 5 percent inteicst and are repayable re-payable over periods up to three years. Inquiries may be made, or applications ap-plications filed, at the Farmers Home office located in the Federal Fed-eral building in Cedar City. |