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The loans are offered lo owners and operators of farms, tenants and landlords as well as. to groups of producers desiring to purchase drying equipment for joint use, provided such persons are producers of wheat, corn, oats, rye, barley, soybeans, peanuts, or other eligible crops. Loans to finance the constructions or purchase of new farm storage facilities for any of these grains and o*her storable crops are also available through June 30, 1954. Under the facility loan programs farmers may borrow up to 80% of the cost of the structure and repay in four annual installments with interest at a rate of 4% a year. PMA will finance the purchase of facilities which meet their requirement for eligible storage under the price support program. Eligibility of producers is the same under drying equipment loan program and loans are also disbursed through the PMA County Office.
Mr. Barksdale further stated that the need for grain storage facilities and equipment in Rappahannock is probably more than in prior year due to the demand of farmers for storage space as a means of obtaining price support on 1953 crops. Adequate warehouse facilities for such storage has simply not been available to local farmers. Additional information concerning the facility programs may be had at the Rap
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