Loans

Alternative Loan Program

The Alternative Loan Program can be used to finance the production, processing and marketing needs of an alternative agricultural enterprise.

Criteria:
Maximum loan - $20,000
Interest Rate - 7.5%
Maximum term of loan - 5 years with semi-annual payments

What is an agricultural alternative?
An agricultural alternative project is doing something different from what traditional rural operations are currently doing. It may be taking a traditional enterprise and adding a new twist such as butchering your own livestock and selling the meat or milling your own wheat and making baked goods. An alternative for one person is not necessarily an alternative for another person. Look at your area and seek out profitable opportunities.

Animal Waste Treatment System Loan Program

The Animal Waste Treatment System Loan Program can be used to finance animal waste treatment systems for independent livestock and poultry producers at below conventional interest rates. Loan proceeds may be used to finance:

• 100% of the cost of an eligible animal waste treatment system, less the amount of grants from any other state or federal agency, such as:
• Storage structures (earthen, concrete, or slurry systems),
• Eligible land,
• Engineering cost, finance charges,
• Fencing around lagoons,
• Irrigation systems to pump down lagoon,
• Animal waste treatment system equipment,
• Dedicated waste treatment equipment,
• Portions of feeding floors and loafing areas used for waste collection,
• Flush systems,
• Composters,
• Vegetative filters,
• Filter strips,
• Water and sediment strips,
• Contour buffer strips, and
• Diversions or other water pollution reduction activities associated with animal waste treatment systems

The Beginning Farmer Loan Program

The Beginning Farmer Loan Program enables lenders to receive federally tax-exempt interest on loans made to beginning farmers. The tax savings are passed on to beginning farmers in the form of lower interest rates. A qualified borrower can borrow up to $450,000 to buy:

• agricultural land
• farm buildings
• farm equipment
• and breeding livestock

The entire $450,000 may be used for new equipment or breeding stock, and up to $62,500 can fund used equipment or breeding stock.