OCR Text |
Show Federal Credit Available to Farmers-Ranchers Emergency crop feed loans to assist farmers in adjusting their operations to the production of war goal crops now are available, J. Stewart Campbell, Field Supervisor Super-visor for the Emergency Crop and Feed Loan Section of the Farm Credit administration, announced today. Crop loans are available to farmers, farm-ers, either tenants or owners to aid in production of war crops he said. Tenants who can make arrangements for land to farm, and who can give a first lien 'on. crops to be financed for security, are eligible for the loans, he said. Applicants who can obtain loans from a production credit association associa-tion or On reasonable terms from other sources, are not eligible ' for emergency crop loans. He also explained that even If an applicant owes balances on old seed or feed loans, it will!, not prevent the approval of a "new loan. The amount of a crop loan is based upon two things, Hr. Campbell Camp-bell said. The amount actually needed to produce the crop and not to exceed the amount that fcion be repaid from crop production produc-tion with normal yields and prices. Loans to finance the purchase or production of feed for livestock, also axe available under the same general terms and conditions, ex- . cept a first mortgage on the ; stock to be fed is required as se- ; curity. "Purpose of these loans", he continued, "is to furnish credit to eligible farmers whenever needed, i This will help them produce and harvest their regular crops, feed and soil conserving crops as well as war goal crops and other commodities. com-modities. The loan funds may . be used for seed purchases, fertilizer fertili-zer and other supplies or expenses necessary for the production and harvesting of crops, including an appropriate amount for the repair of farm machinery and equipment equip-ment or for the purchase or production pro-duction of feed to be used in livestock feeding. Applicants for loans will toe interviewed in-terviewed every Wednesday morning morn-ing at the Cache county court-house, court-house, Mr. Campbell announced. |