Not entirely. It's fairly complex with different types of coverage but the most you can insure is 75% of your average yield you have "proven" through FSA.
So new farmers who do not have proven yields have to use county averages.
Also 75% is obviously the most expensive and most crops were not insured to that level due to low commodity prices.
The 75% coverage does not fully cover the production costs of the insured crop.
Been raining a lot lately. I can't roof houses in the rain. I need a pic of me and all my roofers in the background.
"They are who we thought they were"
You can dress a fat chick up, but you cant fix stupid
what about the landscapers and concrete guy?
pics too
A Nation of Sheep Breeds a Government of Wolves!
What about the miners that have a flooded quarry that they can't get stone out of? With out that stone the roads don't get repaired.
Guess I need to get all the guys and the equipment in a photo as well.
I think we can all agree that many different businesses and industries have been adverselyaffected by the floods to varying degrees. It seems shortsighted to single one out to benefit over the others.
I understand the "government should not pick winners." Yes even if 50% of the farms go under, we will still eat and land will be taken over and planted by large farmers.
The difference in farming and most every other business is 90% of a farmers income comes from a harvest that happens in a 30 day window. Most other businesses earn income year round.
I am from the Pee Dee. Our economy is devastated. Crop insurance will not come close to helping farmers break even.
Either write things worth reading, or do things worth writing.
Solid post!
Just like I said on the federal farm subsidies, welfare is welfare, don't matter what else you want to call it. Funny how so many on here bitch about welfare but when you say something about subsidies they jump down your throat. And yes, some members of my family get them too. I tell them they are on welfare also.
Course most of the dipshits on here think National Forests and National Parks are a good thing. Just proves they know nothing about The Constitution they supposedly love so much.
Last edited by Mergie Master; 12-22-2015 at 08:40 PM.
The Elites don't fear the tall nails, government possesses both the will and the means to crush those folks. What the Elites do fear (or should fear) are the quiet men and women, with low profiles, hard hearts, long memories, and detailed target folders for action as they choose.
"I here repeat, & would willingly proclaim, my unmitigated hatred to Yankee rule—to all political, social and business connections with Yankees, & to the perfidious, malignant, & vile Yankee race."
Hell...I must not be in the minority.
There are small business disaster relief loans available that for some reason does not apply to farmers.
Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by the SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
Interest rates are as low as 4 percent for businesses and 2.625 percent for nonprofit organizations 1.875 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
There are also disaster loans for farmers:
Loan Limit
Producers can borrow up to 100 percent of actual production or physical losses, to a maximum amount of $500,00
Loan Terms
Loans for crop, livestock, and non-real estate losses are normally repaid within one to seven years, depending on the loan purpose, repayment ability and collateral available as loan security. In special circumstances, terms of up to 20 years may be authorized. Loans for physical losses to real estate are normally repaid within 30 years. In certain circumstances, repayment may be made over a maximum of 40 years.
Collateral is Required
All emergency loans must be fully collateralized. The specic type of collateral may vary depending on the loan purpose, repayment ability and the individual circumstances of the applicant. If applicants cannot provide adequate collateral, their repayment ability may be considered as collateral to secure the loan. A first lien is required on property or products acquired, produced or refinanced with loan funds.
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