Farmers benefit from MO loan program
Thursday, April 26, 2012
The Missouri State Treasurers office says four more Missouri farm families have been able to start up their own farms with Missouri Linked Deposit Program loans. Treasurer Clint Zweifel says those farming operations are for raising cattle and growing row crops in central and northwest Missouri. Loan amounts range from $19,000 to $217,000. One family used a USDA Farm Service Agency loan guarantee in combination with the low-interest loan.
Farmers are eligible to receive the low-interest loans through the program based on lender underwriting standards – Local governments, housing developments and alternative-energy focused projects may also qualify.
Typically, qualifying borrowers save about 30-percent on the costs of their loans.
To date, Missouri Linked Deposit loans have totaled more than $980 Million – impacting more than 16-thousand jobs and farmers. For more information go online to treasurer dot mo dot gov slash LinkedDeposit.