Some Oklahoma Farmers Not Interested In Low Interest Loans

Friday, August 4th 2006, 9:46 am
By: News On 6

OKLAHOMA CITY (AP) -- The federal government is making low interest loans available to Oklahoma farmers and ranchers who've suffered losses due to drought and extreme heat.

But some of those farmers and ranchers say they're not interested.

Farmer and rancher Scott Neufeld of Fairview says at some point the loan has to be paid back and right now it looks like that will be difficult to do.

Neufeld says farmers are also worried about soaring fuel prices and don't want to drown in debt.

The loan rate being offered is 3.75 percent, but Oklahoma Farm Bureau spokesman Sam Knipp says what's needed is a grant program for the rural areas.

The loan applications are available at Farm Service Agency offices statewide.