Loan Funds Available

Loan Funds Available

Io Fanners

Loan funds arc available to eligible fanners who wish to develop vater supply systems for household ise and livestock; to drain farm and; and to carry out soil conservation measures, reports George irause, Acting County Supervisor or the Farmer Home Administraion.

Mr. Krause points out that these isnds can be extremely useful in leveloping the water and land reources of the community and othrwise supporting rural area development. Each dollar used wisely in leveloping and conserving water ind land resources, helps prevent :rop failures, boosts farm income, ind increases the value of local >roperty. Funds used in developing water ind land resources stimulate local >usiness activity. , Farmers may obtain water development and soil conservation oans to drill wells and otherwise mprove water supply systems for lome use and livestock; purchase jumps; construct and repair ponds tod tanks; dig ditches and install ile to drain farm land; make other -elated improvements. Loans may also be obtained to dear and level land; carry out basc land treatment practices, includng liming, .fertilizing and seeding; uDsoil or sod land; purchase posts, vire, other fencing materials; plant rees; establish permanent pasture, funds' may also be used to obtain dans and'pay fee for legal, engileering and other technical service.

Farmers pay 5 percent interet >n water and soil conservation oans. Loans to individual farmers ire usually scheduled for repaynent over a period of 10 to 20 vears but loans may be made payible over periods up to 40 years, f necessary. A farmer may borrow up to $60,000, depending on low the funds are to be used and ire property available for security. To be eligible for water develjpment and soil conservation loans i farmer must be unable to obtain :he necessary credit on reasonable erms from private and cooperative enders. Further details about hese loans may be obtained from ihte Farmers Home Administration iffice at 505 N Main St., Culveper, Va.