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Agricultural Finance
Finance & Budget Division
- Minnesota Department of Agriculture
- Company Dev, Loans, Grants
- Loans
- Agricultural Finance / Rural Finance Authority
The Rural Finance Authority (RFA) provides low-interest loan programs to farmers for a multitude of tasks. The RFA lovers with neighborhood loan providers to present credit that is affordable qualified farmers. Loan participations are ordered by the RFA beneath the programs that are following
Fundamental Farm and loans that are seller-Assisted assistance younger and starting farmers buy ag land
Agricultural Improvement Loan – finances farm improvements for almost any ag associated function, such as for example grain facilities that are handling device storage space and manure systems
Restructure II Loan – helps farmers reorganize their farm financial obligation to enhance cashflow
Livestock Expansion Loan – produces affordable funding for brand brand new advanced livestock manufacturing facilities.
The Aggie Bond Program creates a federal income tax exemption for banking institutions, and a federal and state taxation exemption on interest earnings 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 machinery. 2 hundred ninety-six farmers have actually benefited from over $42 million loans.
Revolving records were founded to aid other loan activities. 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 processing that is agricultural. The Livestock Equipment Loan Program is made to help fund the purchase that is first of gear and work out livestock facilities improvements. The Agriculture that is sustainable and digester loan programs are administered jointly because of the MDA Finance & Budget and Ag advertising & Development Divisions.