USDA designates Eddy County disaster area due to drought

Jessica Onsurez
Carlsbad Current-Argus

Farmers and ranchers in three southeast New Mexico counties may be eligible for emergency loans following a natural disaster area declaration from the U.S. Department of Agriculture.

Producers in Eddy, Lea and Chaves counties can apply for emergency loans to help recover from losses in the areas areas affected by drought. 

The loans may be used to restore or replace essential property, pay for production costs associated with the disaster year, pay living expenses or refinance certain types of debt.

There are eligibility requirements for anyone considering applying for an emergency loan. Those include a 30 percent loss of crop or livestock, real estate or chattel property, an acceptable credit history and an inability to receive credit from commercial sources.

Collateral is required to qualify for the loan, and applications must be submitted within eight months of the declaration.

"FSA will consider each loan application on its own merits, taking into account the extent of losses, security available and repayment ability," a news release from the USDA reads.

"FSA has a variety of programs, in addition to the emergency loan program, to help eligible farmers recover from the impacts of this disaster."

Producers in Culberson, Loving and Reeves counties, just over the Texas/New Mexico border, are also eligible for emergency loans under the declaration.

For more information about emergency loans or additional programs visit www.farmers.gov/recover.

Jessica Onsurez can be reached at 575-628-5531, jonsurez@currentargus.com or @JussGREAT on Twitter.