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<br />-- Not available to borrowers who can get credit elsewhere. <br /> <br />-- 'Interest rate is the same IS for disaste:' t.usfness loans where <br />the borrower cannot get credit elsewhere; i.e., not to exceed <br />8 percent. <br /> <br />-~.~pplicant must be an eligible small business accord'ng to SBA <br />tize standards. <br /> <br />-- Nine month application period following the date of declaration. <br /> <br />-- Maximum time for repayment is 30 years. However, the terms for <br />repayment will be based on the applicants ability to repay. <br /> <br />-- Statutory loan limit of $500,000. SBA may waive limit if <br />applicant is a major source of employment in the disaster area. <br /> <br />s. EMERGENCY LOAN (EM) - Fanners Home Administration (FmHA) <br /> <br />Actual Physical Loss Loans <br /> <br />__ Low interest loans to established fanners, ranchers and aqua- <br />culture operators, either tenant-operator or owner-operator, <br />for physical and production losses. Loan funds may be used to <br />repair or replace disaster damaged or destroyed farm property <br />and supplies; for repayment of farm operating debts incurred <br />during the disaster year; for current Capital loan payments <br />such as chattel and real estate debt payments; for meeting <br />essential family living expenses; for payment of taxes and <br />current and delinquent debts; for financing all or part of <br />next year's production costs, etc. <br /> <br />__ A lower interest rate will apply if the applicant is unable to <br />obtain credit elsewhere. If the applicant is able to obtaln <br />credit elsewhere, the interest rate will be at-.aihigher <br />statutory formula rate which is based upon the cost of money <br />to the Federal Government and will vary by disaster. <br /> <br />__ Available in designated counties only. <br /> <br />__ Six month application period. <br /> <br />__ Maximum time for repayment will vary. Actual production loss <br />loans are normally made up to 7 years. Loans for production <br />and chattel losses may be extended up to 20 years under certain <br />circumstances. Actual loss loans for real estate will normally <br />be. 30 years, but NY extend up to 40 years. <br /> <br />__ Applicant ~st be a U. S. Citizen. Non-Citizens are referred <br />to SBA. <br /> <br />4 <br />