Malheur County ranchers who lost livestock and other property essential to the success of their ranch or farms can now apply for low-interest federal loans.
The federal Farm Service Agency announced on Aug. 13 the loans for producers impacted by wildfires that began July 7 and continue to burn on the rangeland.
Gail Greenman, state executive director of the Farm Service Agency in Oregon, said the interest rate was 3.75% for August. According to USDA loan documents, the agency calculates and posts interest rates each month. The rate charged on an emergency loan is always the lower rate that is in effect when the loan is approved.
Greenman said rancher can borrow up to the full value production or physical losses due to fire, limited to $500,000. Losses could be livestock, storage sheds, farming equipment, feed, hay and other crops, according to information from the agency.
Greenman said an applicant must be an established farmer, producer, operator or tenant operator at the time of the wildfires and intends to continue farming or ranching.
Greenman said the federal agency aims to work with each loan applicant to tailor their application to their circumstances to get them the assistance they need.
Greenman said loans for crops, livestock and non-real estate losses usually must be repaid within one to seven years, depending on the purpose of the loan, the borrower’s ability to repay the loan and their collateral. She said a loan could be repaid over 20 years under certain circumstances.
The deadline to apply for a loan is April 14, 2025, according to Greenman.
According to Greenman, ranchers need basic business documents and records of their losses when they apply for a loan. She said borrowers must also operate with a farm plan they develop with local FSA staff. They might also be required to participate in a financial management training and may need to buy crop insurance.
The agency also manages the Livestock Indemnity Program, which reimburses producers who lose livestock due to adverse weather events. Producers can also get assistance through the federal agency’s Livestock Forage Disaster Program.
For more information about Farm Service Agency assistance, call 541-889-9689.
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