Feed and Seed Loans Become Available

In March, 1931, both feed and seed loans became available to help needy farmers in Clinton, Caldwell and Daviess Counties. Some of the regulations for the Federal Seed Loans were:

In March, 1931, both feed and seed loans became available to help needy farmers in Clinton, Caldwell and Daviess Counties. Some of the regulations for the Federal Seed Loans were:

1. Loans are made for seed, fertilizer, and feed for work stock, or fuel and oil for tractors.

2. Loans are intended for farmers who cannot get commercial credit and not for the man who can get credit at his local bank.

3. Applications must be made in person at the office of the county extension agent in the courthouse at Plattsburg.

4. Loans to any one individual may not exceed $600, and are due and payable Nov. 30, 1931, or sooner if the crops covered are sold before that time.

5. The note bears an interest rate of 5% per annum.

6. The loan must be secured by an absolute first mortgage on all crops grown by the applicant in 1931. In order for a tenant to obtain a loan from this fund, his landlord must sign the waver which is part of the mortgage form.

7. A complete legal description of all land owned or rented by the applicant is required. The tax receipt usually contains this description.

Researched by Wilbur Bush