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Agricultural Finance
Finance & Budget Division
- Minnesota Department of Agriculture
- Company Dev, Loans, Grants
- Loans
- Agricultural Finance / Rural Finance Authority
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The Rural Finance Authority (RFA) provides loan that is low-interest to farmers for numerous tasks. The RFA partners with regional loan providers to present affordable credit to qualified farmers. Loan participations are ordered by the RFA beneath the after programs:
Fundamental Farm and Seller-Assisted Loans – assistance younger and starting farmers buy ag land
Agricultural Improvement Loan – finances farm improvements for almost any ag related function, such as for instance grain facilities that are handling device storage space and manure systems
Restructure II Loan – helps farmers reorganize their farm financial obligation to boost income
Livestock Expansion Loan – produces affordable funding for new state-of-the-art livestock manufacturing facilities.
The Aggie Bond Program creates a federal taxation exemption for banking institutions, and a federal and state income tax exemption on interest income to a person vendor in return for providing below market rates of interest to eligible starting farmers to get farm real-estate, agricultural improvements, breeding livestock and equipment. 2 hundred ninety-six farmers have actually benefited from over $42 million loans.
Revolving records have already been founded to aid other loan tasks. The RFA has provided over $4.5 million in loans to 200 reduced equity farmers to acquire stock in cooperatives that have and operate value-added agricultural processing facilities. The Livestock Equipment Loan Program was created to help fund the purchase that is first of gear while making livestock facilities improvements. The Agriculture that is sustainable and digester loan programs are administered jointly by the MDA Finance & Budget and Ag advertising & Development Divisions.
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