Dr. John C. Gamble, Executive Director
Alabama Agricultural Development Authority
1445 Federal Dr
PO Box 3336
Montgomery, AL 36109-0336
Telephone: (334) 240-7245 FAX: (334) 240-7270
E-mail: john.gamble@agi.alabama.gov
Organization Began: 1980

Candy Easley, Loan Officer
Alaska Department of Natural Resources -- Division of Agriculture
Agricultural Revolving Loan Fund (ARLF)
1800 Glenn Hwy, Ste 12
Palmer, AK 99645-6736
Telephone: (907) 745-7200 FAX: (907) 745-7242
Email: candy.easley@alaska.gov
Website: www.dnr.alaska.gov/ag
Organization Began: 1953

Donald Butler, Director
Arizona Department of Agriculture
1688 W Adams St
Phoenix, AZ 85007-2606
Telephone: (602) 542-0997 FAX: (602) 542-5420
E-mail: dbutler@azda.gov
Website: www.azda.gov
Organization Began: 1991


No agricultural loan programs available.

Gene Eagle, Vice President
Arkansas Development Finance Authority
423 Main St, Ste 500
PO Box 8023
Little Rock, AR 72203-8023
Telephone: (501) 682-5905 FAX: (501) 682-5939
E-mail: geagle@adfa.state.ar.us
Website: www.arkansas.gov/adfa
Organization Began: 1985

Program/Project Title: Beginning Farmer Loan Program
Program Began: 1989
Contact Person: Chuck Cathey {ccathey@adfa.state.ar.us}
Target Group: Beginning farmers
Description: Uses individual small-issue private activity bonds for beginning farmer projects.

Program/Project Title: Capital Access Program
Program Began: 1993
Contact Person: Camilla Davis {cdavis@adfa.state.ar.us}
Target Group: Small businesses
Description: This program is based on a unique portfolio insurance concept. For each participating bank, a special reserve fund is established to cover future losses from a portfolio of loans which the bank makes under the program. The actual level of payments to be made into the reserve at the time of making any loan is determined by the bank, within certain parameters. At a minimum, the borrower pays an amount equal to 1.5 percent with a maximum of 3.5 percent. The bank matches this, and then ADFA matches the total contributed by both the borrower and the bank.

Program/Project Title: ADFA Bond Guaranty Program
Program Began: 1985
Contact Person: Charles Lynch {clynch@adfa.state.ar.us} and Chuck Cathey {ccathey@adfa.state.ar.us}
Target Group: Industrial/agricultural value-added processors, storage and distribution facilities and equipment
Description: Uses a state-backed guarantee of small issue private activity bonds and taxable bonds to restore, revitalize, promote and develop the state’s agricultural and industrial businesses.

Program/Project Title: Export Finance Program
Program Began: 1989
Contact Person: Chuck Cathey {ccathey@adfa.state.ar.us}
Target Group: Small service companies, manufacturers and agribusiness
Description: Provides working capital using export credit insurance and guarantees through the Export Import Bank of America and the SBA to cover unsecured sales to foreign buyers.

Program/Project Title: Farm Mediation
Program Began: 1989
Contact Person: Rick Johnston
Target Group: Farmers and lenders in Arkansas
Description: Manages a federally sponsored Farmer/Creditor Mediation Service to provide a forum for farmers and lenders to resolve loan debt service problems.

Program/Project Title: Agricultural Cooperative Loan Program
Program Began: 1991
Contact Person: Chuck Cathey or Charles Lynch
Target Group: Agricultural producer/marketing cooperatives, nonprofit corporations and nonprofit associations
Description: Using a $500,000 revolving loan fund to finance facilities and equipment to stimulate crop diversification and to help limited resource farmers make a living on small acreage by growing high value crops.

Program/Project Title: Aquaculture Development Program
Program Began: 1991
Contact Person: Ted McNulty or Rachael Higdon {870-575-8126} www.aad.ar.gov\aquaculture
Target Group: Aquaculture enterprises in Arkansas
Description: Serves as a clearinghouse for information, acts as a coordinator for orderly growth and to position Arkansas as a national leader in the aquaculture industry.

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Karl Zalazowski, President
California Coastal Rural Development Corporation
221 Main St, Ste 301
Salinas, CA 93901-2754
Telephone: (831) 424-1099 FAX: (831) 424-1094
E-mail: karl_zalazowski@calcoastal.org
Website: www.calcoastal.org
Organization Began: 1982

Branch Offices:
Salinas Office
Jose Guerra
221 Main St, Ste 300
Salinas, CA 93101
(805) 424-1099
jose_guerra@calcoastal.org

Ventura Office
Tom Ruggles
701 E. Santa Clara St., #50
Ventura, CA 93003
(805) 652-0516
tom_ruggles@calcoastal.org

Santa Maria Office
Bob Musick
910 E. Stowell Rd., #105
Santa Maria, CA 93454
(805) 349-0798
Robert_musick@calcoastal.org

Program/Project Title: Loan Guarantee Program
Program Began: 1982
Contacts: Wendy Franscioni
Cost/Funding: State of California
Target Group: Diversified small businesses
Description: Promotes small enterprises with special emphasis on assisting those that will create or retain jobs.

Program/Project Title: Farm Loan Program
Program Began: 1988
Contacts: Jose Guerra and Bob Musick
Cost/Funding: State of California/USDA
Target Group: Small farmers/small businesses
Description: Provides loans to family farms eligible for an FSA Guarantee. Funds may be used for crop production, harvest, farm ownership, improvements or equipment acquisition. Funds may also be used for non-farm rural development projects and micro loans.

Program/Project Title: Intermediary Relending Program
Program Began: 1992
Contacts: Wendy Franscioni and Bob Musick
Cost/Funding: USDA/Rural Development
Target Group: Rural businesses
Description: Provide loans to non-farm rural businesses.

Program/Project Title: SBA Micro Loan Program
Program Began: 1998
Contacts: Carole Cook and Saya Rodriguez
Cost/Funding: SBA
Target Group: Existing, small businesses and start-up businesses
Description: Provides start-up and expansion funding for small businesses.

Program/Project Title: B & I / NADBANK
Program Began: 1999
Contacts: Wendy Franscioni, Bob Musick and Jose Guerra
Cost/Funding: USDA/Rural Development
Target: Rural, fixed asset
Description: Long term asset financing for rural businesses.

Program/Project Title: SBA 504 Certified Development Company
Program Began: 2001
Contact: Wendy Franscioni
Cost/Funding:  SBA
Target Group: Small businesses
Description: Larger fixed asset long term loans primarily for real estate purchases.

Jim Rubingh, Executive Director
Colorado Agricultural Development Authority
700 Kipling St, Ste 4000
Lakewood, CO 80215-8000
Telephone: (303) 815-9543 FAX: (303) 237-4851
E-mail: jimrcada@comcast.net
Website: www.cadafarmloan.com
Organization Began: 1981

Program/Project Title: Beginning Farmer Loan Program
Program Began: 1981
Contact Person: Jim Rubingh
Cost/Funding: $44,732,126 since inception
Target Group: Beginning farmers
Description: Uses tax-exempt bonds to assist first-time farmers and ranchers in purchasing farmland and equipment.

Program/Project Title: Value Added Processing Program
Program Began: 1996
Contact Person: Jim Rubingh
Cost/Funding: $14,895,000
Target Group: Agricultural processors
Description: Issue tax exempt bonds for development of agricultural processing facilities.

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Lisa Jones, Seed Certification Specialist
Delaware Department of Agriculture
2320 S DuPont Hwy
Dover, DE 19901-5515
Telephone: (302) 698-4500 FAX: (302) 697-6287
E-mail: lisa.jones@state.de.us
Website: www.dda.delaware.gov

No agricultural loan programs available.

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Don Coker
Florida Department of Agriculture and Consumer Services
407 South Calhoun Street, Suite 209
Tallahassee, FL 32399-0800
Telephone: (850) 921-1998 FAX: (850) 922-2861
E-mail: cokerd@doacs.state.fl.us
Website: www.doacs.state.fl.us
Organization began: 1934

No program funds have been allocated for this fiscal year.

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David Skinner, Executive Director
Georgia Development Authority
1890 Highway 138 NW
Monroe, GA 30655-5656
Telephone: (770) 207-4250 FAX: (770) 2074257
E-mail: david@gdaonline.com
Website: www.gdaonline.com
Organization Began: 1954

Program/Project Title: Insured Farm Loans
Program Began: 1954
Contact Person: David Skinner
Cost/Funding: Self-supporting
Target Group: Stable Georgia farmers and small agribusinesses
Description: The Authority has an active insured loan program for agricultural capitol purposes. These loans, which are made for a term as long as 20 years, are at a variable rate determined by prime plus 1/2 percent and LIBOR plus 2 percent adjusted annually.

New Programs Under Consideration: Expansion of existing programs and renewal of the Beginning Farmer Program

Dean M. Matsukawa, Administrator
Hawaii Department of Agriculture, Agricultural Loan Division
1428 S King St
Honolulu, HI 96814-2512
Telephone: (808) 973-9460 FAX: (808) 973-9455
E-mail: dean.m.matsukawa@hawaii.gov
Website: www.hawaii.gov/hdoa/agl
Organization Began: 1903

Program/Project Title: Agricultural Loans
Program Began: 1959
Contact Person: Dean Matsukawa
Cost/Funding: The budget ceiling for FY 2005 is $4.5 million, which is funded by a special revolving fund.
Target Group: As a lender of “last resort,” the program targets farmers who are unable to obtain the necessary financing for their business operation through conventional sources.
Description: The objective of this program is to promote the agricultural development of the state by stimulating, facilitating and granting loans to qualified farmers, and providing related financial services.

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Kelly A. Nielsen, Administrator
Idaho State Department of Agriculture
2270 Old Penitentiary Rd
PO Box 790
Boise, ID 83701-0790
Telephone: (208) 332-8514 FAX: (208) 334-3431
E-mail: knielsen@agri.idaho.gov
Website: www.agri.state.id.us/index.php

Program/Project Title: Idaho Rural Rehabilitation Loan Program
Program Began: 1972
Contact Person: Kelly Nielsen
Cost/Funding: $230,000 annually
Target Group: Agriculture-related individuals or companies
Description: The Idaho Rural Rehabilitation Loan Program offers financing and assistance to individuals and organizations in Idaho whose projects or efforts will provide for rural economic development in Idaho and who cannot obtain credit from conventional sources. Maximum loan per recipient is $60,000.

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Chris Meister, Executive Director
Illinois Finance Authority
180 N Stetson Ave, Ste 2555
Chicago, IL 60601-6776
Telephone: (312) 651-1320
FAX: (312) 651-1350
E-mail: cmeister@il-fa.com

Lorrie Karcher, Program Administrator
Illinois Finance Authority
2929 Broadway St, Ste 7B
Mt. Vernon, IL 62864-2383
Telephone: (618) 244-2424
E-mail: lkarcher@il-fa.com
Website: www.il-fa.com/agriculture
Illinois Farm Development Authority Began: 1982
Illinois Finance Authority Began: 2004

Program/Project Title: Beginning Farmer Bond Program (Aggie Bond)
Program Began: 1982
Contact Person: Lorrie Karcher
Cost/Funding: Borrowers pay a closing fee of 1.5 percent. These federally tax exempt bonds are subject to the state’s bond cap. Maximum loan size is $470,100 for calendar year 2010.
Target Group: First time farmland buyers with a net worth of less than $500,000. Applicants are also subject to the federal restrictions concerning aggie bonds.
Description: A beginning farmer benefits by receiving an interest rate which is below market. Local lenders are able to offer the lower rate because the bonds are federally tax-exempt. Bonds can be used together with FSA’s down payment loan program. Bonds are also available for use with qualified contract for deed sales.

Program/Project Title: State Guarantee Program for Restructuring Ag Debt
Program Began: 1986
Contact Person: Lorrie Karcher
Target Group: Existing farm operations that need to restructure or refinance existing debt.
Description: The applicant pays a closing fee equal to 3/4 of 1 percent of the loan. Of this, 1/4 percent is paid to the lender and 1/2 percent is retained by IFA for operating expenses. The lender also pays a 1/4 percent administrative fee annually. A loss reserve fund has been established by the state. Maximum loan size is $500,000. Local lenders use this loan guarantee program to refinance and restructure an applicant’s existing debt. Debt held by one or more lenders is consolidated and guaranteed through this program. The lender receives a guarantee of 85 percent of the principal and interest. The guarantee provides credit enhancement, and provides more favorable terms including lower interest rates and smaller principal payments. Guarantees are backed by the full faith and credit of the state. They are exempt from banks’ legal lending limits.

Program/Project Title: Young Farmer Guarantee Program
Began: 1993
Contact Person: Lorrie Karcher
Cost/Funding: The applicant pays a closing fee equal to 1 percent of the loan. Of this, 1/4 percent is paid to the lender and 3/4 percent is retained by IFA for operating expenses. The lender also pays a 1/4 percent administrative fee annually. A loss reserve fund has been established by the state. Maximum loan size is $500,000.
Target Group: Young farmers who are purchasing capital assets.
Description: Applicants work with local lenders to arrange financing for such things as land, buildings, breeding livestock, machinery and equipment. The lender receives a guarantee of 85 percent of the principal and interest. The guarantee provides credit enhancement, resulting in more favorable terms and more financing opportunities for young farmers. Guarantees are backed by the full faith and credit of the state. They are exempt from banks’ legal lending limits.

Program/Project Title: Specialized Livestock Guarantee
Program Began: 1996
Contact Person: Lorrie Karcher
Target Group: Farmers who are acquiring, constructing or remodeling specialized livestock facilities, including but not limited to swine, dairy and beef operations.  May be contract or independent producers.
Description: The applicant pays a closing fee equal to 1 percent of the loan. Of this, 1/4 percent is paid to the lender and 3/4 percent is retained by IFA for operating expenses. The lender also pays a 1/4 percent administrative fee annually. A loss reserve fund has been established by the state. Maximum loan size is $1,000,000. Local lenders provide financing; IFA guarantees 85 percent of the principal and interest. Loans may be used for the construction, remodeling or acquisition of facilities and can also be used to finance related machinery, equipment and breeding livestock. The guarantee assists lenders in providing credit for specialized operations that may have highly improved real estate. It also allows the lender an opportunity to finance new types of relationships among producers, vendors and suppliers in various livestock industries. Guarantees are backed by the full faith and credit of the state. They are exempt from banks’ legal lending limits.

Program/Project Title: Value-Added Stock Purchase
Program Began: 2001
Contact Person: Lorrie Karcher
Cost/Funding: The application fee is $300. For loans above $30,000, there is a loan closing fee equal to 1 percent of the loan amount, minus the application fee paid. The lender pays a ¼ of 1 percent of the outstanding principal balance for the administrative fee annually. A loss reserve fund has been established by the state. The maximum loan size is $100,000.
Target Group: Farmers who are buying stock in value-added entities that further process Illinois farm commodities. Recent examples include ethanol plants and meat processing facilities.
Description: Local lenders provide financing; IFA guarantees 85 percent of the principal and interest. Stock in the value-added entity may be pledged as collateral to secure these loans. Additional collateral may be required. Loans are scheduled with a 10 year repayment with an “interest only” payment in the first year.

Program/Project Title: Agri-Industry Guarantee
Program Began: 1987
Contact Person: Lorrie Karcher
Cost/Funding: The applicant pays a loan closing fee of ¾ of 1 percent. The lender also pays a ¼ of 1 percent of the outstanding principal balance as the administrative fee annually. A loss reserve fund has been established by the state. Maximum loan size is $1 million, although some exceptions can be made and borrowers may add additional loans in future years.
Target Group: Entities that are processing or otherwise adding value to Illinois farm commodities. Also, farmers that are producing commodities not commonly produced in Illinois. Examples include poultry, fruit and vegetable production and processing, livestock processing and retail meat, viticulture, and wineries. Also, other agri-businesses located in Illinois. Examples include grain elevators, machinery and equipment, parts manufacturing related to the agricultural industry.
Description: Local lenders provide financing; IFA guarantees 85 percent of the principal and interest. Guarantees are backed by the full faith and credit of the state. They are exempt from banks’ legal lending limits.

Program/Project Title: Participation Loan Program
Contact Person: Lorrie Karcher
Cost/Funding: The applicant pays an application fee of $200. Maximum loan size is $500,000 or 50 percent of the project cost, whichever is less. The IFA funded portion of the loan is loaned at an interest rate of 1.00 percent less the then primary lender’s interest rate.  Interest rates may be fixed up to 5 years.
Target Group: Agricultural producers and agribusinesses are both eligible for the program. The agri-businesses or producer must be located in Illinois. Program is designed to finance and foster further expansion of farms and agri-businesses in the state of Illinois. Eligible projects are limited to new money transactions for the purchase of fixed assets.
Description: Local lenders act as the lead lender, with IFA participating in the funding by purchasing a portion of the loan from the originating lender. Initial term of IFA commitment is 5 years, with the option of one 5 year extension.  Loans may include a balloon with longer amortization when applicable. Collateral is shared with IFA on a “Parri Passu” basis.

Tammy Nebola, Program Planner
Iowa Agricultural Development Authority
505 Fifth Ave, Suite 327
Des Moines, IA 50309-2322
Telephone: (515) 281-6444 FAX: (515) 281-8618
E-mail: iada@iowa.gov
Website: www.iada.state.ia.us/
Organization Began: 1981

Program/Project Title: Beginning Farmer Loan Program
Program Began: 1981
Contact Person: Jeff Ward
Cost/Funding: Total loan volume to date of $453,030,293. Receive $57.4 million annual allocation to sell bonds; self funded with $50 application fee and 1.25 percent closing fee for loans up to $470,100 and 0.625 percent over $250,000
Target Group: Beginning farmers with a net worth of less than $555,600.
Description: Available to individuals who have had no substantial ownership interest in farmland. Items that can be financed include agricultural land, agricultural improvements, depreciable agricultural property such as new and used equipment and breeding stock. Loans can be made up to a maximum of $62,500 for used depreciable agricultural property, $125,000 for new depreciable agricultural property, $250,000 for farm improvements and $469,200 for agricultural real estate; no minimum amount. Loans can be made for this program with lenders or contract-for-deed sellers.

Program/Project Title: Loan Participation Program
Program Began: 1996
Contact Person: Jeff Ward
Cost/Funding: Total loan volume to date of $6,334,779. Utilizes Rural Rehabilitation Trust Fund; self-funded with application and closing fees.
Target Group: Low-income and beginning farmers
Description: Assists qualified low-income farmers to more readily secure loans from participating lenders by supplementing the borrowers’ down-payment. It also reduces lender’s risk since the IADA provides a “last in-last out” loan participation for the financial institution. Maximum loan amount of $150,000. Closing fee of 1.25 percent of participated amount.

Program/Project Title: Beginning Farmer Tax Credit Program
Program Began: 2007
Contact Person: Jeff Ward
Cost/Funding: Tax Credits $6 million cap
Target Group: Owners of capital ag assets who lease those assets to qualifying beginning farmers
Description: This program provides asset owners a tax credit of 5 percent of rental income received under a cash rental agreement or 15 percent of the value owners’ share under a share agreement. Lease term must be a minimum of two years and a maximum of five years.

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Bonnie Gauntt, Administrative Assistant
Kansas Development Finance Authority
555 S Kansas Ave, Ste 202
Topeka, KS 66603-3423
Telephone: (785) 357-4445 Ext. 301 FAX: (785) 357-4478
E-mail Address: bgauntt@kdfa.org
Website: www.kdfa.org
Organization Began: 1987

Program/Project Title: Beginning Farmer Loan Program
Program Began: 1990
Contact Person: Bonnie Gauntt
Cost/Funding: $56,349,365 since its inception
Target Group: Beginning farmers
Description: Available to individuals who have had no substantial ownership interest in farmland. Items that can be financed include agricultural land, agricultural improvements, depreciable agricultural property such as new and used equipment and breeding stock. Loans can be made up to a maximum of aggregate base amount of $450,000, indexed annually for inflation per person for a lifetime use, with no minimum amount and no net worth requirements. Loans can be made for this program with lenders, contract-for-deed sellers or individuals acting as the bond purchasers.

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Bill B. McCloskey, Director of Financial Services
Cyndi Hall, Financial Records Specialist
Kentucky Agricultural Finance Corporation
404 Ann St
Frankfort, KY 40601-1929
Telephone: (502) 564-4627 Ext. 235 FAX: (502) 564-0221
E-mail: billB.mccloskey@ky.gov or cyndil.hall@ky.gov
Website: http://kafc.ky.gov
Organization Began: 1984

Program/Project Title: Kentucky Agricultural Infrastructure Loan Program (AILP)
Program Began: 2005
Target Group: Kentucky agricultural producers
Description: The AILP is designed to assist Kentucky’s farmers in financing long-term projects that will improve their financial viability. These funds can be used to expand, remodel or construct buildings or farm structures for agricultural purposes only. A producer who can document tobacco history may qualify for 2 percent interest on KAFC loan funds. Applicants without tobacco income documentation can also apply for loans at a 4 percent rate. The interest rate can be fixed up to 15 years. All applicants must receive 20 percent of their gross income from farming. The loan must be serviced by a participating lending institution which must also provide a match of loan funds. The lender is allowed to charge the borrower up to an additional .75 percent on KAFC’s portion of the loan for origination and servicing. The other portion of the loan will be at the lender’s normal rate. The cap for an AILP loan is $100,000 or 50 percent of the project cost.

Program/Project Title: Beginning Farmer Loan Program (BFLP)
Program Began: 2005
Target Group: Beginning farmers
Description: The Beginning Farmer Loan Program (BFLP) is designed to assist experienced individuals who wish to create, expand or buy into a farming operation. Loan funds may be used to purchase land, equipment, livestock, facilities, or to buy into an existing partnership or LLC. This program has a limit of $250,000 or 50 percent of the outstanding debt held by the participating lender.

Program/Project Title: Agricultural Processing Loan Program (APLP)
Program Began: 2005
Target Group: Kentucky value-added processing companies
Description: The Agricultural Processing Loan Program (APLP) provides loan opportunities to companies that add value to Kentucky-grown commodities through processing. KAFC will also consider loan opportunities that provide marketing potential for Kentucky farmers. The APLP loan limit is $5 million

Program/Project Title: Coordinated Value-Added Loan Program (CVALP)
Program Began: 2005
Target Group: Kentucky entities who want to expand contract marketing opportunities for other farmers
Description: The Coordinated Value-Added Loan Program (CVALP) was created to offer loans to entities in Kentucky that are expanding their operation to provide new contracting opportunities to Kentucky farmers. KAFC will finance loans of up to $1,000,000 with a limit of $100,000 for each new grower opportunity created.

Program/Project Title: Diversification through Entrepreneurship in Agribusiness Loan Program (DEAL)
Program Began: 2010
Target Group: Kentucky agribusinesses owned by farmers who provide products and services to farmers
Description: The Diversification through Entrepreneurship in Agribusiness Loan Program (DEAL) is designed to assist limited Resource individuals with the establishment of or purchase into a business that provides agricultural products or services to other producers.

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Rene Simon
Louisiana Agriculture Finance Authority
5825 Florida Blvd
PO Box 3334
Baton Rouge, LA 70821-3334
Telephone: (225) 922-1292 FAX: (225) 922-1289
E-mail: rsimon@ldaf.state.la.us
Organization Began: 1984

Program/Project Title: Agribusiness Loan/Guarantee Program
Contact Person: Rene Simon
Target Group: Agribusinesses
Description: Assists individuals/firms engaged in marketing, processing and/or further processing of Louisiana farm products with a lower than market rate of interest. In no case, however, shall the rate be less than the base Federal Reserve discount rate at the time the loan is approved. Loans shall not exceed 75 percent of the value of the property offered as security.

Program/Project Title: Linked Deposit Loan Program
Program Began: 1989
Contact Person: Rene Simon
Target Group: Ag processors
Description: Provide low interest loans to any person who seeks to acquire, construct, furnish, equip, make necessary improvements to, or purchase any agriculture plant; or provide operating capital, market development and product inventories provided that the low interest loan shall result in a significant contribution to the economic development of the state and assists in maintaining business profitability as well as preserving and creating jobs for Louisiana citizens.

Program/Project Title: Linked Deposit Loan Program
Program Began: 1989
Contact Person: Rene Simon
Target Group: Ag producers
Description:  Provide low interest loans to any person who seeks to continue operation of the farm through the crop or production year, repair or purchase agricultural equipment and machinery, rental of equipment and machinery and the purchase of seed, feed, fertilizer, chemical, crop insurance, livestock, and production-related energy, labor, or veterinarian fees provided that the low interest loan shall result in a significant contribution to the economic development of the state and assists in maintaining the farming business in Louisiana.

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Jane Aiudi, Director
Division of Market & Production Development
28 State House Station
Augusta, ME 04332-0949
Telephone: (207) 287-3491 FAX: (207) 287-5576
E-mail Address: jane.aiudi@maine.gov
Website: www.maine.gov/agriculture/mpd

Program/Project Title: Potato Marketing Improvement Fund
Program Began: 1983
Contact Person: Steve Belyea
Cost/Funding: $10 million
Target Group: Maine potato growers and marketers
Description: The program is administered jointly by the Maine Department of Agriculture and the Finance Authority of Maine (FAME). The program can provide a loan of up to 45 percent of the project costs with a fixed rate of 5 percent and a subordinate position to commercial bank debt. The program finances new state-of-the-art storage facilities, machinery, and equipment used to market high-quality Maine potatoes.

Program/Project Title: Agricultural Marketing Loan Fund
Program Began: 1997
Contact Person: John Harker
Cost/Funding: $6 million
Target Group: Individual or entity engaged in agricultural, aquaculture, or natural resource-based enterprise.
Description: The program is administered jointly by the Maine Department of Agriculture and the Finance Authority of Maine (FAME). This program can provide a loan up to 90 percent of project costs up to a maximum amount of $250,000 at an interest rate of 5 percent fixed in a subordinate lien position to commercial bank debt. The program is designed to help businesses employ new technologies and innovative processes. Loan funds may be used for new or improvements to land and buildings, as well as to purchase or retrofit machinery and equipment that helps improve the quality and marketability of Maine-made products.

Mark F. Hedrich
Nutrient Management Coordinator
Nutrient Management Program
Agricultural Compliance Program
Maine Department of Agriculture
28 State House Station
Augusta, ME 04333-0028
Telephone: (207) 287-7608 FAX: (207) 287-7548
Email: Mark.Hedrich@maine.gov

Program/Project Title: Nutrient Management Loan Program
Program Began: 1999
Contact Person:  Charles Emmons, Jr., FAME—cemmons@famemaine.com
Cost/Funding: $6 million
Target Group: Dairy farmers
Description: The program is jointly administered by the Maine Department of Agriculture (Department) and the Finance Authority of Maine (FAME), and was established through the combined efforts of the Maine Municipal Bond Bank, the Maine Department of Environmental Protection, the Department, and FAME. This program provides low interest direct loans, up to $350,000, for the construction of livestock manure and milk room waste containment/handling facilities as set forth by the Nutrient Management Act,

7MRSAx4201 et seq., and the Maine Department of Agriculture’s Nutrient Management Rules (Chapter 565). The program funding was provided by the State Department of Environmental Protection and the United States Environmental Protection Agency’s Clean Water Revolving Loan Fund.

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Stephen R. McHenry, Executive Director
Maryland Agricultural and Resource-Based Industry Development Corp.
1410 Forest Dr, Ste 28
Annapolis, MD 21403-1446
Telephone: (410) 267-6807 FAX: (410) 267-6809
Email Addresses: smchenry@marbidco.org or krobinson@marbidco.org
Website: www.marbidco.org
Organization Began: 2007

Program/Project Title: Maryland Resource-Based Industry Financing Fund (MRBIFF)
Program Began: 2007
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Agriculture and Resource-Based businesses in Maryland for the purchase of land and capital equipment
Total Loan Volume: $6.5 million
Description: Low-interest (3% APR initially) loans for established agricultural and resource-based businesses for the purchase of land and capital equipment for production and processing activities (or environmental enhancement projects). The maximum loan amount is $250,000. Some priority is given to value-added and niche market-oriented projects as well as beginning or transitioning producers and processors. MARBIDCO provides up to 50% of financing needed for a project, and a commercial lender and/or a public instrumentality must also have an equal financial commitment in any transaction. MARBIDCO typically takes a subordinate position on the collateral security with MRBIFF loans.

Program/Project Title: Rural Business Working Capital & Equipment Loan Fund
Program Began: 2007
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Agriculture and Resource-Based businesses in Maryland for working capital and equipment purchases.
Total Loan Volume: $0.2 million
Description: Low-interest (4.75% APR) loans for natural resource businesses and ag producers for working capital and equipment purchases. The maximum loan amount is $75,000. A letter of referral from a commercial lender is required. Certain eligibility restrictions may also apply if federal funds are being used (e.g., USDA-Rural Development funds.)

Program/Project Title: Maryland Vineyard Planting Loan Fund
Program Began: 2009
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Maryland’s rural landowners wanting to plant vineyards and develop wineries.
Total Loan Volume: $75,000
Description: Low-interest (3-5% APR) loans to help meet the unique financing needs of Maryland’s rural landowners wanting to plant grapes and develop wineries.  The maximum loan amount is $100,000 and an interest only option is available. A letter of referral from a commercial lender is required as well as a site evaluation approval letter from the wine/grape industry’s viticulture committee.  The requested financial assistance must relate to the installation of new vineyards, including the prepping of land for vineyard installation, purchase of vines, vineyard equipment and supplies. The purchase of tractors, pick-up trucks, and wine-making equipment are not eligible for financing under this particular program.

Program/Project Title: Forestry Equipment and Working Capital Loan Fund
Program Began: 2009
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Maryland's forest products businesses with respect to working capital and equipment purchases.
Total Loan Volume: $150,000
Description: Low-interest (4.75-10% APR), depending on the level of credit and collateral risk) loans to Maryland’s forest products businesses with respect to working capital and equipment purchases.  The maximum loan amount is $150,000. A letter of referral from a commercial lender is required. In a special effort to better serve the forest products industry in Maryland, MARBIDCO utilizes slightly more liberal underwriting guidelines than normal for making loans under this program (including the utilization of a minimum debt service coverage ratio of 1.0/1.0, as well as partially relaxed collateral security requirements, where appropriate).

Program/Project Title: Rural Business Energy Efficiency Improvement Loan Fund
Program Began: 2009
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Maryland’s food and fiber producers and processors planning to implement energy efficiency projects.
Total Loan Volume: $20,000
Description: Low-interest (4% APR) "micro" loans for energy efficiency projects undertaken by food and fiber producers and processors implementing the recommendations of a third-party energy auditor.  The minimum loan amount is $2,500 and the maximum is $15,000.  Loan advances may not exceed the cost of actually making the improvements minus any grant incentive funding received for a project.  A credit score of at least 650 is required with no bankruptcies filed within the last seven years.  Loans made under this program are unsecured and only the personal guarantees of the borrowers and/or businesses would be required.  Loans will be fully amortized with terms not exceeding the anticipated savings payback period with at least 1.0 - 1.0 ratio on the annual energy savings payback. A letter of referral from a commercial lender is required.

Program/Project Title: Agricultural Cooperatives Equity Investment Fund
Program Began: 2009
Contact Person: Steve McHenry, Executive Director
Target Group: Agricultural cooperatives.
Total Loan Volume:  $71,000
Description: This program provides a portion of the patient capital investment needed by agricultural cooperatives during the period that business operations are beginning or significantly expanding.  The maximum amount of equity funding that MARBIDCO can provide to an individual cooperative is $100,000 in any single year.  MARBIDCO equity investments are repayable after several years and can convert to debt. Some additional public sector financial participation is ordinarily required for any cooperative that receives an equity investment from MARBIDCO. 

Program/Project Title: Local Government Ag/RBI Project Cost Share Program
Program Began: 2007
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Local government economic development offices and regional rural development councils.
Total Volume: $121,000
Description: This program is designed to lend support to local and regional rural business development efforts.  MARBIDCO will consider a project cost-share request from a local or regional economic development office if the project fits within MARBIDCO’s statutorily established economic development profile.  Any project or activity funded by MARBIDCO must assist in some fashion Maryland’s farming, forestry, or seafood industries. If a project directly benefits an individual farmer or rural business owner, then the farmer or business owner must be willing to make a financial contribution to help support the implementation of the project. MARBIDCO’s participation in the cost share project cannot exceed that of the local government.  The only exception to this requirement is that a county designated as “One Maryland” jurisdiction (i.e., a severely economically distressed county) may qualify for a match from MARBIDCO of up to 200% of the county’s contribution.

Program/Project Title: Maryland Value Added Producer Grant
Program Began: 2007
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Producers participating in the USDA’s value added producer grant program.
Total Volume: $0.4 million
Description: This program is designed to encourage participation in USDA’s highly competitive Value Added Producer Grant Program (which has both planning and working capital components). The USDA VAPG Program, which is offered annually, requires a financial matching commitment and each application for the USDA VAPG must include a “verification of matching funds”.   The USDA VAPG Planning Grant offers a maximum award of $100,000, and the Working Capital Grant offers a maximum of $300,000.  MARBIDCO’s grants can be applied for up to $10,000 and $25,000, respectively not to exceed 15% of the USDA grant award. To be eligible to apply to MARBIDCO for funding, a grant applicant must also be eligible under the USDA VAPG Program and funds will only be awarded to those who actually receive the USDA VAPG award. 

Program/Project Title: Land Conservation Easement Installment Purchase Agreements Program
Program Began: 2009
Contact Person: Kristin Robinson, Financial Programs Officer
Target Group: Agriculture landowners selling their easements to the Maryland Agricultural Land Preservation Foundation and other rural land conservation programs
Total Volume: $1 million
Description: This program works in conjunction with the Maryland Agricultural Land Preservation Foundation (MALPF) and county governments to enable the purchasing of easements on agricultural properties using tax-advantaged financial arrangements structured to benefit both landowners and the State. MARBIDCO uses government easement purchase payment revenues to purchase U.S. Treasury securities (SLGS or STRIPS) on behalf of rural land conservation easement sellers. (MARBIDCO is also currently exploring the use of Aggie Bonds to assist counties with both their young farmer and rural land preservation programs.)

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Douglas Petersen, Commissioner
Scott Soares, Assistant Commissioner
Massachusetts Department of Agricultural Resources
251 Causeway St, Ste 500
Boston, MA 02114-2119
Telephone: (617) 626-1720 FAX: (617) 626-1850
E-mail Addresses: doug.petersen@state.ma.us and scott.soares@state.ma.us
Website: www.mass.gov/agr

Existing Grant Program: Farm Viability Planning Program
Contact Person:                Craig Richov {Craig.Richov@state.ma.us or (617) 626-1725}
Target Group:                   Massachusetts farmers with 5 acres in agricultural use
Description:                      Assist farmers in planning their operations such as feasibility studies of potential enterprises, business plans and environmental plans; farm owners making a five-year non-development covenant could receive seed capital up to $20,000 or as much as $40,000 for 10-year non-development covenant.

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Mike DiBernardo
Michigan Department of Agriculture
525 W Allegan St
PO Box 30017
Lansing, MI 48909-7517
Telephone: (517) 241-2178 FAX: (517) 335-0628
E-mail Address: dibernardom@michigan.gov
Web: www.michigan.gov/MDA
Organization Began: 1921

No agricultural loan programs available.

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Ryan Roles, Senior Loan Officer
Minnesota Rural Finance Authority
625 N Robert St
St. Paul, MN 55155-2538
Telephone: (651) 201-6666 FAX: (651) 201-6109
E-mail: Ryan.Roles@state.mn.us
Website: www.mda.state.mn.us
Organization Began: 1986

Organization Title: Minnesota Rural Finance Authority (RFA)
Program/Project Title: Basic Farm Loan Program
Program Began: 1987
Contact Person: Gary Blahosky
Target Group: Low-equity and beginning farmers wanting to purchase real estate
Description: Borrowers must (1) have sufficient education, training or experience to succeed in the type of farming operation they intend to pursue; (2) have a total net worth not exceeding $409,000 (indexed); (3) agree to enroll in a farm business management program; and (4) agree to carry credit life insurance for the amount of the loan program. The RFA participation is limited to 45 percent of the loan principal up to $300,000.

Program/Project Title: Seller-Assisted Loan Program
Program Began: 1989
Contact Person: Gary Blahosky
Target Group: Low-equity and beginning farmers wanting to purchase real estate
Description: Similar to Beginning Farmer program with one exception -- it permits the sellers of a farm to fund a portion of the financing. The seller agrees to subordinate their financing to the lender/RFA. The lender and RFA provide the balance of the funds with a first mortgage.

Program/Project Title: Agricultural Improvement Loan Program
Program Began: 1992
Contact Person: Gary Blahosky
Target Group: Low-equity farmers
Description: Provides financing for farm improvements including grain handling facilities, machine storage, erosion control, wells and manure systems. Borrowers must not have a total net worth exceeding $409,000 (indexed). RFA participation is 45 percent of the loan principal up to $300,000.

Program/Project Title: Restructure II Loan Program
Program Began: 1993
Contact Person: Gary Blahosky
Target Group: Low to mid equity farmers
Description: Under this program, the RFA works with a local lender to help farmers reorganize their debt. This program is for farmers who remain in good standing with local lender, but are having trouble with cash flow due to adverse conditions beyond their control. Only debt of an agricultural nature is eligible. Borrower net worth cannot exceed $772,000. The RFA will participate on 45 percent of the loan principal up to $400,000.

Program/Project Title: Livestock Expansion Loan Program
Program Began: 1994
Contact Person: Gary Blahosky
Target Group: Livestock farmers
Description: This program creates affordable financing for new, state-of-the-art improvements to land, buildings, and other permanent structures used for livestock production. A borrower (1) must be actively engaged in a livestock operation, (2) have the ability to repay the loan, and (3) have a total net worth not exceeding $772,000 (indexed). The RFA may participate on a loan up to 45 percent of the loan principal to a maximum of $400,000.

Program/Project Title: Agricultural Development Bond Program (Aggie Bond)
Program Began: 1991
Contact Person: Lori Schmidt
Cost/Funding: $5.0 million reserve each year
Target Group: Low-equity farmers
Description: This program helps a young farmer receive an interest rate which is below market. Local lenders are able to offer the lower rate because the interest received is federally tax-exempt. Bonds can be used together with FSA's down payment loan program. Bonds are also available for use with qualified contract for deed sales which also makes the interest received both state and federally tax-exempt. Items that can be financed include agricultural land, agricultural improvements, depreciable agricultural property such as new and used equipment and breeding stock. Net worth cannot exceed $409,000 (indexed for inflation) and applicant cannot have owned any substantial amount of farmland.

Program/Project Title: Value-Added Ag Product Loan Program (Stock Loan Program)
Program Began: 1994
Contact Person: Gary Blahosky
Target Group: Low-equity farmers
Description: Helps farmers finance the purchase of stock in an existing value-added cooperative or LLC or in a proposed new cooperative or LLC processing facility in Minnesota. The RFA participation is 45 percent up to $40,000.

Program/Project Title: Disaster Recovery Loan Program
Program Began: 1998 (major revision 2007)
Contact Person: Gary Blahosky
Target Group: Farmers who experienced losses due to high winds, hail, tornado, flood or drought.
Description: Operation must be located within a county that was the subject of a state or federal disaster declaration. Borrower net worth cannot exceed $772,000 (indexed for inflation) and at least 50 percent of average gross income for the past three years had to come from farming. RFA participation is limited to 45 percent of the loan principal up to a maximum of $50,000 at an interest rate not to exceed four percent.

Program/Project Title: Methane Digester Loan Program
Program Began: 2002
Contact Person: Gary Blahosky
Target Group: Livestock farmers
Description: This program provides for either a direct loan from the RFA or a loan participation with an eligible lender to an eligible farmer for the purchase of necessary equipment and the construction of a system that will utilize manure to produce electricity. A direct loan or loan participation may not exceed $250,000. The financing provided by the RFA under this program must be at no interest. Maximum term is 10 years.

Program/Project Title: Livestock Equipment Pilot Loan Program
Program Began: 2005
Contact Person: Gary Blahosky
Target Group: Low-equity livestock farmers
Description: This program creates affordable financing for the purchase of livestock related equipment. The borrower must have a total net worth not exceeding $409,000 (indexed). The RFA may participate on a loan up to 45 percent of the loan principal to a maximum of $40,000. Financing on RFA’s portion is at 3% interest rate.

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Fred Rainer
Mississippi Development Authority
PO Box 849
Jackson, MS 39205-0849
Telephone: (601) 359-2415 FAX: (601) 359-3619
E-mail: frainer@mississippi.org
Website: www.mississippi.org
Organization Began: 1990

Program/Project Title: Agribusiness Loan Program
Program Began: 1990
Contact Person: Fred Rainer
Cost/Funding: $65 million
Target Group: Any agribusiness located in the state of Mississippi
Description: Designed to encourage the extension of conventional financing by lending institutions by providing interest-free loans to agribusiness. An eligible agribusiness is any aquaculture, horticulture, or agriculture-related industrial, manufacturing, research and development, or processing enterprise. The maximum agribusiness loan is 20 percent of the total project cost or $200,000, whichever is less. Proceeds may be used to finance buildings and equipment and for cost associated with the purchase of land (appraisals, title searches, etc.). However, proceeds cannot be used to purchase land. All loans must be guaranteed by the direct lender.

Program/Project Title: Mississippi Land, Water and Timber Resources Program
Program Began: 2001
Contact Person: Fred Rainer
Cost/Funding: $20 million
Target Group: Any agribusiness located in the State of Mississippi

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Tony Stafford, Executive Director
Missouri Agricultural and Small Business Development Authority (MASBDA)
PO Box 630
Jefferson City, MO 65102-0630
Telephone: (573) 751-2129 FAX: (573) 522-2416
E-mail: tony.stafford@mda.mo.gov
Website: www.mda.mo.gov/abd/financial
Organization Began: 1981

Program/Project Title: Beginning Farmer Loan Program
Program Began: 1984
Contact Person: Tony Stafford
Target Group: Beginning farmers with a minimum age requirement of 18 years.
Total Loan Volume: $33,813,785
Description: Available to individuals who have no substantial ownership interest in farmland. Items that can be financed include agricultural land, agricultural improvements, depreciable agricultural property such as new and used equipment and breeding stock. Loans can be made up to a maximum of $470,100 with no minimum amount.

Program/Project Title: Animal Waste System Loan Program
Program Began: 1995
Contact Person: Tony Stafford
Total Loan Volume: $11,913,346
Target Group: Independent livestock/poultry producers
Description: Loans to finance animal waste treatment systems for independent livestock and poultry producers whose projects have been approved by the Department of Natural Resources.

Program/Project Title: Single-Purpose Animal Facilities Loan Guarantee Program
Program Began: 1995
Contact Person: Tony Stafford
Total Loan Volume: $34,334,399 in guaranteed loans
Target Group: Livestock/poultry producers
Description: This program provides a 50 percent first loss guarantee to lenders making loans for single-purpose livestock facilities or expansion of existing livestock operations.

Program/Project Title: Missouri Value Added Grant Program
Program Began: 1998
Contact Person: Tony Stafford
Total Grants Awarded: $13,305,508 in grants
Target Group: Missouri farmers and agribusinesses
Description: This program provides funding for feasibility studies, marketing studies, and business planning for proposed value-added enterprises. The maximum grant is $200,000.

Program/Project Title: Missouri Value-Added Loan Guarantee Program
Program Began: 1998
Contact Person: Tony Stafford
Total Loans Guaranteed: $35,511,429
Target Group: Missouri farmers and agribusiness
Description: This program provides a 50 percent first loss guarantee to lenders making loans for value added agricultural projects including loans for land, building, equipment, or stock loans for membership in value-added processing entities.

Program/Project Title: New Generation Cooperative Incentive Tax Credit Program
Program Began: 1999
Contact Person: Tony Stafford
Total Tax Credits Issued: $42,649,855
Target Group: At-risk producer members investing in new generation processing entities.
Description: This program provides a state tax credit equal to 50 percent of members investment in eligible new generation processing entity. Maximum tax credit is $15,000 per producer member investor.

Program/Project Title: Agricultural Product Utilization Contributor Tax Credit Program
Program Began: 1999
Contact Person: Tony Stafford
Tax Credits Sold: $12,119,048 in tax credits
Target Group: Missouri Taxpayers
Description: This program provides a state tax credit equal to up to 100 percent of persons’ contribution to the Missouri Agricultural and Small Business Development Authority.

Program/Project Title: Family Farm Breeding Livestock Loan Program
Program Began: 2006
Contact Person: Tony Stafford
Tax Credits Issued: $316,844
Target Group: Missouri’s small farmers
Description: This program provides a Missouri tax credit to lenders in lieu of the first year interest being paid on breeding livestock loans made to small farmers with less than $250,000 in gross agricultural products sales per year.

Program/Project Title: Qualified Beef Tax Credit Program
Program Began: 2007
Contact Person: Tony Stafford
Tax Credits Authorized: $3,000,000 annually
Target Group: Missouri beef producers
Description: This program provides for a $.10 per pound tax credit to beef producers who put on an additional 200 lbs. per head in Missouri over an established baseline weight.

Program/Project Title: Eligible Facility Borrower Program
Program Began: 2003
Contact Person: Tony Stafford
Total Loans Approved: $53,767,800
Target Group: Renewable fuel production facilities or product development facilities.
Description: This program provides for the approval and qualification for facility borrowers under the BIG MISSOURI linked deposit program.

Program/Project Title: Alternative Loan Program
Program Began: 1989
Contact Person: Tony Stafford
Loan Volume: $20,000 up to 5 years
Target Group: Agricultural producers
Description: Financing the production, processing and marketing needs of an alternative agricultural enterprise. An alternative project is doing something different from what traditional rural operations are currently doing.

Program/Project Title: Livestock Feed and Crop Input Loan Guarantee Program
Program Began: 2008
Contact Person: Tony Stafford
Total Loan Volume: New program effective August 2008
Target Group: Livestock and crop producers
Description: This program provides a 50 percent first loss guarantee to lenders making loans for livestock feed and crop inputs.

Program/Project Title: Dairy Female Replacement Loan Program
Program Began: 2008
Contact Person: Tony Stafford
Total Loan Volume: New program effective August 2008
Target Group: Dairy producers
Description: This program provides that MASBDA will pay the first year’s interest on loan for the purchase of dairy cows and replacement heifers.

Program/Project Title: Dairy Planning Grant Program
Program Began: 2008
Contact Person: Tony Stafford
Total Loan Volume: New program effective August 2008
Target Group: Dairy producers
Description: This program provides grants of $5,000 for the purpose of dairy business planning for new or expanding dairies.

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Lee Boyer, Rural Development Bureau Chief
Montana Department of Agriculture
PO Box 200201
Helena, MT 59620-0201
Telephone: (406) 444-2402 FAX: (406) 444-9442
Email: lboyer@mt.gov
Website: www.agr.mt.gov
Organization Began: 1925

Program/Project Title: FSA Subordination Loan Program
Contact Person: Walt Anseth
Cost/Funding: Rural Rehabilitation Funds (self perpetuating)
Target Group: FSA Borrowers
Description: Provide annual operating funds for current FSA borrowers; maximum loan can be 60 percent of collateral value with a maximum of $90,000 for one year.

Program/Project Title: Rural Assistance Loan Program
Contact Person: Walt Anseth
Cost/Funding: Rural Rehabilitation Funds
Target Group: Small or beginning agricultural producers
Description: Can loan 80 percent of collateral value with maximum loan of $35,000. Loans may be used for operating expenses, livestock purchases, capital expenditures and real estate. The term is 1, 7 or 10 years. The total assets cannot exceed $350,000 and net worth cannot exceed $100,000.

Program/Project Title: Junior Agriculture Loan Program
Program Began: 1972
Contact Person: Walt Anseth
Cost/Funding: Rural Rehabilitation Funds
Target Group: 4-H & FFA youth
Description: Loan 90 percent of first year costs up to $8,500 with a five year maximum term.

Program/Project Title: Beginning Farm/Ranch Loan Program
Program Began: 2002
Contact Person: Lee Boyer
Cost/Funding: Aggie Bonds
Target Group: Beginning farmers and ranchers
Description: A tax-exempt bond program designed to aid financial institutions in assisting beginning farmers/ranchers to purchase agricultural land, improvements, or depreciable agricultural property.

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Dudley Beyer
Nebraska Investment Finance Authority
200 Commerce Ct
1230 “O” St
Lincoln, NE 68508-1402
Telephone: 1-800-204-NIFA or (402) 434-3900 FAX: (402) 434-3921
E-mail: dudley.beyer@nifa.org
Website: www.nifa.org
Organization Began: 1982

Program/Project Title: IDB-Based Agricultural Loan Program (Aggie Bonds)
Program Began: 1982
Contact Person: Dudley Beyer
Target Group: Beginning Farmers and Ranchers
Description: Eligibility requirements, other than net worth, are defined by federal tax law. Loans can be used to purchase agricultural land, permanent land improvements, or depreciable personal property (including breeding livestock). The total amount of loans to finance farm land, together with any portion of the loans allocated to financing depreciable property, may not exceed $470,100. Of this amount, no more than $250,000 may be used to finance any depreciable property and no more than $62,500 of such amount may be used to finance used depreciable property or breeding stock. Borrower current net worth cannot be in excess of $500,000 and they cannot have owned (either currently or in the past) farm land which is/was greater than 30 percent of the median size of farms for that county in which the parcel is/was located.

Program/Project Title: [Governor’s] Agricultural Excellence Awards
Program Began: 1997
Contact Person: Dudley Beyer
Cost/Funding: $50,000 each year
Target Group: 4-H Club and FFA Chapter members
Description: NIFA-sponsored awards given in the name of and co-presented with the Governor of Nebraska. The awards are to allow 4-H and FFA members to explore careers in agriculture by strengthening their educational programs which emphasize agricultural and life skills, and also for strengthening the image of agriculture in local communities. $25,000 is given to the top 4-H Clubs and $25,000 is given to the top FFA Chapters, which compete for the award. It is stressed that the award is funded by NIFA discretionary funds and no tax dollars are used.

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Lorraine Merrill, Commissioner
New Hampshire Department of Agriculture, Markets and Food
PO Box 2042
Concord, NH 03302-2042
Telephone: (603) 271-3551 FAX: (603) 271-1109
E-mail: lmerrill@agr.state.nh.us
Website: www.agriculture.nh.gov
Organization Began: 1913

No agricultural loan programs available..

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Karen Kritz
New Jersey Department of Agriculture
John Fitch Plaza
PO Box 330
Trenton, NJ 08625-0330
Telephone: (609) 984-2506 FAX: (609) 341-3212
E-mail: karen.kritz@ag.state.nj.us
Website: www.state.nj.us/agriculture
Organization Began: 1916

No agricultural loan programs available.

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I. Miley Gonzalez, Ph.D., Director/Secretary
New Mexico Department of Agriculture
MSC 3189
PO Box 30005
Las Cruces, NM 88003-8005
Telephone: (575) 646-3007 FAX: (575) 646-8120
E-mail: mgonzalez@nmda.nmsu.edu
Website: http://nmdaweb.nmsu.edu

No agricultural loan programs offered.

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Angela Petrone, Senior Program Analyst
New York State Environmental Facilities Corporation
625 Broadway, 7th Floor
Albany, NY 12207-2997
Telephone: (800) 882-9721 FAX: (518) 486-9248
E-mail: petrone@nysefc.org
Website: www.nysefc.org
Organization Began: 1970

No agricultural loan programs available.

New Programs Under Consideration: In planning stages of Linked Deposit Program, which will offer assistance for Agricultural operations.

Dr. Frank Bordeaux, Executive Director
North Carolina Agricultural Finance Authority
PO Box 27908
Raleigh, NC 27611-7908
Telephone: (919) 790-3949 FAX: (919) 790-3954
E-mail: frank.bordeaux@ncagr.gov
Website: www.ncagr.gov
Organization Began: 1987


Program/Project Title: Series I Farm Real Estate Loans
Program Began: 1988
Contact Person: Frank Bordeaux
Cost/Funding: State funded reserve
Target Group: Farmers having difficulty qualifying for conventional loans
Description: Loans can be used to purchase real estate (land, buildings, improvements); up to 15-year term for as much as 95 percent of appraised value; interest rate is prime plus 1.75 percent variable; North Carolina Agricultural Finance Authority (NCAFA) must be able to obtain FSA guarantee on loan; NCAFA is lender and services loan.

Program/Project Title: Beginning Farmer Loan Program (Series II)
Program Began: 1993
Contact Person: Frank Bordeaux
Cost/Funding: State funded reserve
Target Group: Young farmers beginning land ownership
Description: NCAFA loans 60 percent of need to farmers who obtain 30 percent from FSA’s down-payments loan program; farmer makes 10 percent down payment; interest rate is prime plus 3/4 percent variable.

Program/Project Title: “Ag Start” Beginning Farmer Loans
Program Began: 1997
Contact Person: Frank Bordeaux
Cost/Funding: State revolving fund
Target Group: Beginning Farmers
Description: Joint farm real estate lending program with Farm Credit Services (North Carolina) NCAFA makes 50 percent of loan with FSA guarantee subordinated to FCS loan.

Program/Project Title: Agricultural Development Bonds
Program Began: 1995
Contact Person: Frank Bordeaux
Cost/Funding: Self funded (state covers administrative overhead)
Target Group: All agribusinesses
Description: Tax-exempt bonds (state and federal) are issued for processing and manufacturing of agricultural products; NCAFA has statewide bond authority.

Program/Project Title: Facilities Disaster Loans
Program Began: 1998
Contact Person: Frank Bordeaux
Cost/Funding: State of North Carolina Funds
Target Group: Farmers sustaining damage to farm buildings and structures due to natural disasters.
Description: NCAFA makes low interest loans to repair farm buildings and structures. State appropriation.

Program/Project Title: Agribusiness Loans
Program Began: January 2000
Contact Person: Frank Bordeaux
Cost/Funding: State revolving fund
Target Group: Agribusinesses that are providing value added processing support for other facets of agriculture.
Description: Loans typically have a loan guarantee provided by Rural Economic and Community Development, USDA.

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Robert Humann, SVP of Lending
Bank of North Dakota
1200 Memorial Highway
P.O. Box 5509
Bismarck, ND 58506-5509
Telephone: (800) 472-2166 Ext. 5703 or (701) 328-5703
FAX (701) 328-5731
E-mail: bhumann@nd.gov
Website: www.banknd.com

Annette Curl
Telephone: (800) 472-2166 Ext. 5786 or (701) 328-5786
FAX (701) 328-5731
E-mail: acurl@nd.gov
Website: www.banknd.com

Program/Project Title: Beginning Farmer Real Estate Loan Program
Target Group: A North Dakota resident whose principal occupation is farming or ranching with a net worth of less than $500,000 and must not have owned more than 30 percent of the average farm size for the county in which the land is located
Description: Unlike the IDB-based program, this program is administered through the Bank of North Dakota. The maximum loan is $400,000 with the bank lending up to 75 percent of the appraised value with a maximum repayment term of 25 years. The interest rate is fixed for the first five years at 1 percent below BND’s Base Rate with a maximum rate of 6 percent; for the next five years variable at 1 percent below BND’s Base Rate, adjusted annually; then floats at BND’s Base Rate.

Program/Project Title: Family Farm Loan Program
Target Group: Farmers with net worth less than $500,000
Description: This program also is administered through the Bank of North Dakota. BND may participate in loans up to 90 percent of the loan amount but not exceed $400,000; proceeds of the loan can be used to purchase or refinance real estate, farm equipment or livestock, as well as to restructure operating debt carry-over. The interest rate on BND’s share of the loan is variable at 1 percent below BND’s Base Rate.

Program/Project Title: AG PACE Program
Target Group: Any business, except traditional production agriculture, that is integrated into the farm operation and will supplement farm income. Includes the purchase of equipment and facilities, equity shares of a value added ag-processing business or condominium storage entity, irrigation equipment, or capital improvements to feedlots and dairy operations.
Description: Provides low-interest rate financing to on-farm businesses. Borrowers will receive an interest rate buy-down of 5 percent. The maximum buy down may not exceed $20,000 per biennium with a lifetime cap of $60,000. Eligible applicants for interest buy down dollars exceeding $20,000 must have a net worth of less than $1,000,000. State Water Commission funds not exceeding $20,000 per borrower may be used to supplement Ag PACE funds for the purchase of irrigation equipment on new irrigated acreage.

Program/Project Title: Biofuels PACE Program
Target Group: Biodiesel facilities that produce biodegradable, combustible liquid fuel derived from vegetable oil or animal fat which is suitable for blending with diesel fuel for use in internal combustion diesel engines, ethanol production facilities that produce agriculturally derived denatured ethanol which is suitable for blending with a petroleum product for use in internal combustion engines, or livestock operations that feed, handle, milk, or hold livestock while using a byproduct produced at a biodiesel or an ethanol production facility. This also includes the purchase or construction of real property, expansion of facilities, and purchase or installation of equipment including a biodigester system.
Description: Provides low-interest rate financing to businesses. Borrowers will receive an interest rate buy-down of 5 percent. The maximum buy down may not exceed $250,000 - $500,000 depending upon type of facility per project.

Program/Project Title: Established Farmer Real Estate Loan Program
Target Group: North Dakota residents involved in farming
Description: This loan program was developed to assist North Dakota residents in the purchase or refinance of agricultural real estate. The maximum amount is $1,000,000 to any one borrower—up to 65 percent of appraised value of property.

Program/Project Title: Beginning Farmer Chattel Loans
Target Group: A North Dakota resident whose principal occupation is farming or ranching with a net worth less than $500,000 and must not have farmed for more than 15 years.
Description: The total loan may not exceed $400,000 with a lifetime cap of $400,000. BND participates in at least 50 percent and not greater than 80 percent of the total loan. Borrower’s net worth must be less than $500,000. BND’s share of the loan will be fixed for five years at 1 percent below BND base, maximum of 6 percent, then adjusted annually at 1 percent below BND base. The lead lender’s share of the loan will be priced at a market interest rate with this rate to be reduced by a maximum of 5 percent. Maximum term of seven years.

Program/Project Title: Farm Operating Loan Program
Target Group: North Dakota resident owning or operating a farm/ranch with debt-to-asset ratio of 50 percent or greater or net worth of less than $500,000.
Description: Program proceeds for operating expenses only or for livestock retention. Variable interest rate at BND base less 1 percent and term no longer than 1 year. The amount of BND’s participation interest in a farm operating loan may not exceed the lesser of 65 percent of the total loan or $400,000.

Program/Project Title: FSA Guaranteed Loan Purchase Program
Description: BND will purchase an FSA Guaranteed portion of a loan at a below market interest rate with assignment of the guarantee from FSA. Proceeds used to purchase or refinance land, improvements to ag real estate, or purchase or refinance farm equipment/livestock. Terms are based on loan purpose and FSA Guarantee.

Program/Project Title: Regular BND Farm and Ranch Participation
Target Group: Any North Dakota farmer or ranch operation.
Description: Proceeds can be used for all ag related activities including real estate, equipment, livestock and operating. Interest rate is fixed or variable, depending on risk, collateral, repayment and terms. No upper lending limit has been established but is generally 90 percent of the total loan or less.

Program/Project Title:  First Time Farmer Finance Program (Aggie Bond)
Target Group: North Dakota farmer with no substantial farmland ownership.
Description: Proceeds used for the purchase of ag land, improvements, and depreciable property. Interest rate and term negotiated between farmer and bond purchaser. The loan maximum is $470,100 for agricultural land and improvements. No more than $250,000 of the $470,100 aggregate loan amount can be used for Agricultural Improvements and Depreciable Agricultural Chattel Property.  In addition, within the $250,000 limitation, no more than $62,500 can be used for Depreciable Agricultural Chattel Property.

Program/Project Title: Value-Added Agriculture Equity Loan Program (ENVEST)
Target Group: North Dakota resident who may not own more than 25 percent of the project.
Description:  A participation loan for the purchase of shares in start-up or expansion of ag processing business intended to process North Dakota grown products. BND’s share of the loan will be variable with a 5-7 year term and may not exceed 70 percent of the total loan amount. The interest rate on BND’s portion is to float at BND base rate less 1 percent. If investing in a feedlot or dairy operation that feeds a byproduct of a biodiesel or ethanol facility, the borrower will receive an interest buydown resulting in a rate of 5 percent below the yield rate with no less than 1 percent, max buydown of $20,000 lifetime cap.

Program/Project Title: Livestock Waste Management System Program
Target Group: Livestock producers
Description: Provides loan participation financing for installing waste management facilities. The borrower’s interest rate is fixed at 5.50 percent for 10 years with a maximum loan amount of $1,000,000. The term may not exceed 10 years. Approval is required from the North Dakota Department of Health.

Program/Project Title: Farm Real Estate Loan Guarantee Program
Target Group: North Dakota residents
Description: Assist farmers with the purchase or the restructuring of agricultural real estate loans by providing a financial institution with a 75 percent guarantee of total loans that do not exceed $400,000 to an individual borrower. The maximum amount the lender may charge may not exceed 3 percent above BND base rate. The guarantee fee may be included in the loan or in the rate charged by the lender. The guarantee term may not exceed five years.

William N. Morgan, Executive Director
Ohio Rural Development Partnership
A.B. Graham Building
8995 E Main St
Reynoldsburg, OH 43068
Telephone: (614) 466-5495 FAX (614) 728-2652
E-mail Address: bmorgan@agri.ohio.gov

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Terry Peach, Commissioner
Oklahoma Department of Agriculture, Food & Forestry
PO Box 528804
Oklahoma City, OK 73152
Telephone: (405) 522-5719 FAX: (405) 522-0909
E-mail: terry.peach@oda.state.ok.us
Website: www.ok.gov/~okag

Program/Project Title: Agriculture Linked Deposit Program
Contact Person: Sherian Kerlin -- (405) 522-6860
Target Group: “At risk” and “alternative enterprise” borrowers
Description: Joint program with the State Treasurer’s Program; the Treasurer’s Office invests funds in financial institutions at 300 basis points under market rates. The institution then lends funds to qualified borrowers, resulting in rates reduced by 300 to 500 basis points.

Program/Project Title: Beginning Farmer Loan Program
Contact Person: John Harris – (405) 842-1145
Target Group: Beginning farmers with a net worth of less than $200,000.
Description: Available to individuals who have had no substantial ownership interest in farmland. Items that can be financed include agricultural land, agricultural improvements, depreciable agricultural property such as new and used equipment and breeding stock. Loans can be made up to a maximum of $250,000 with no minimum amount. Loans can be made for this program with lenders or contract-for-deed sellers.

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Brent Searle
Oregon Department of Agriculture
635 Capitol St NE
Salem, OR 97301-2532
Telephone: (503) 986-4558 FAX: (503) 986-4750
E-mail: bsearle@oda.state.or.us
Website: www.oregon.gov/ODA/
Organization Began: 1931

No specific agricultural lending programs offered.

Grants and other financial resources: www.oregon.gov/ODA/grants.shtml

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Dennis Hall and Jared Grissinger
Pennsylvania Department of Agriculture
2301 N Cameron St
Harrisburg, PA 17110-9405
Telephone: (717) 705-9513 FAX: (717) 787-5643
Website: www.agriculture.state.pa.us
E-mail: jgrissinge@state.pa.us
Organization Began: 1895

Gary W. Smith and Suzanne Milshaw
Chester County Economic Development Council (CCEDC)
737 Constitution Dr
PO Box 959
Exton, PA 19341-0910
Telephone: (610) 458-5700 FAX: (610) 458-7770
Email: gsmith@cceconomicdevelopment.com and smilshaw@cceconomicdevelopment.com
Website: www.cceconomicdevelopment.com
Organization Began: 1960

Program/Project Title: Next Generation Farmer Loan Program
Program Began: March 20, 1998
Contact Person: Jared Grissinger
Cost/Funding: $10 million
Target Group: Next generation farmers
Description: Provide an effective means for federal-state-industry partnerships and provide next generation farmers the opportunity to purchase land and other capital-intensive assets to begin their agriculture enterprise. This collaborative program is a partnership between the Pennsylvania Department of Agriculture and the Pennsylvania Department of Community and Economic Development. The program uses federal tax-exempt finances to reduce a farmer’s interest rate for capital purchases.

Program/Project Title: PAgrows
Contacts: Dennis Hall: (717) 787-2376 — denhall@state.pa.us
Jared Grissinger: (717) 705-9513 — jgrissinge@state.pa.us
Description: Technical assistance initiative to help farmers understand new program opportunities, paperwork on state programs as well as other lenders such as Farm Service Agency, SBA 504, Farm Credit and private lenders to develop the best possible financing package.

Program: First Industries Fund--Machinery and Equipment Loan Fund (MELF)
Contact Person: Jared Grissinger, Gary W. Smith, and Suzanne Milshaw
Program Began: 2005
Target Group: New and existing farmers, agricultural processing
Description: This program is designed to stimulate growth and assist the retention of business in Pennsylvania by providing low-interest loan financing for a portion of the cost of machinery, equipment and livestock purchases to eligible farmers in the Commonwealth. MELF is administered by the Pennsylvania Department of Community and Economic Development and has been adapted to meet specific needs of farmers.

Program: First Industries Fund--Small Business First Fund (SBFF)
Program Began: 2005
Contact Person: Jared Grissinger, Gary W. Smith, and Suzanne Milshaw
Target Group: New and existing farmers, ag processors
Description: This loan can be used to acquire land and buildings, construct and renovate buildings, and acquire machinery and equipment. Loan amounts are $200,000 or 50 percent of the total project cost, whichever is less. The term of the loan matches the life of the asset.

Program: First Industries Fund—Loan Guarantee Program
Program Began: 2005
Contact Person: Jared Grissinger, Gary W. Smith, and Suzanne Milshaw
Target Group: Existing and new farmers; ag processors
Description: The First Industries Loan Guarantee Program provides a 50 percent guarantee on a lending institution’s loan(s) to an eligible borrower. The maximum guarantee amount is $2,500,000 and can be used on loans for land and buildings, machinery and equipment, and/or working capital and can include the refinance of existing debt.

Program: Small Business Administration (SBA 504)
Program Began: 1983
Contact Person: Gary W. Smith and Suzanne Milshaw
Target Group: Existing and new farmers; ag processors
Description: The 504 Loan Program is a fixed asset financing program for expanding farms. It is the first federal financing tool to recognize the importance of small businesses in the job creation process through their physical expansion. The “504” is the Economic Development Program of the U.S. Small Business Administration. A farmer must have less than 500 employees. Net worth must not exceed $6 million and its average net income after taxes for the preceding two years must not exceed $2 million.

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Gabriel Figueroa, Deputy Secretary
Puerto Rico Department of Agriculture
PO Box 10163
Santurce, PR 00908-1163
Telephone: (787) 721-2120 FAX (787) 723-2765
E-mail: gfigueroa@da.gobierno.pr
Website: www.agricultura.gobierno.pr

Program/Project Title: Collateral Funds
Program Began: July 2001
Contact Person: Gabriel Figueroa
Cost/Funding: $100,000,000
Target Group: Farmers
Description: The program provides funding to guarantee financial security for farmers that apply for our finance programs at the Puerto Rico Economic & Development Bank.  These programs are:Young Agro Enterprisers Program, Women Farmers Program, New Farmers Program, Working Capital Loans for Established Business, and Agricultural Farmers Cluster Programs.

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Kenneth D. Ayars, Chief
Rhode Island Division of Agriculture
235 Promenade St, Room 370
Providence, RI 02908-5767
Telephone: (401) 222-2781 FAX: (401) 222-6047
E-mail: ken.ayars@dem.ri.gov
Website: www.dem.ri.gov/programs/bnatres/agricult/index.htm

No agricultural loan programs offered.

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Larry Boyleston, Assistant Commissioner
South Carolina Department of Agriculture
Agricultural Services
PO Box 11280
Columbia, SC 29211-1280
Telephone: (803) 734-2210 FAX: (803) 734-2192
E-mail: lboylest@scda.sc.gov
Website: www.agriculture.sc.gov

No agricultural loan programs offered.

Terri LaBrie, Loan Administrator
South Dakota Department of Agriculture
523 E Capitol Ave
Pierre, SD 57501-3392
Telephone: (605) 773-5436
FAX: (605) 773-3481
Cell Phone: (605) 280-4745
E-mail: terri.labrie@state.sd.us
Website: www.sdda.sd.gov/AgDevelopment/FinancePrograms
Organization Began: 1925

Program/Project Title: Rural Development Ag Loan Participation Program
Program Began: 1988
Target Group: Value added production, processing, and marketing projects.
Description: This program provides a lower cost participation loan for value-added production, processing, and marketing projects. Eligible uses include land, buildings, improvements, and equipment. Production agriculture land is not eligible. Participation amounts cannot exceed the lesser of 80 percent of the loan amount or $300,000.

Program/Project Title: Junior Livestock Loan Guaranty Program
Program Began: 1992
Target Group: Youth between ages of 12-18 and members of 4-H or FFA.
Description: This program provides a 30 percent guarantee on livestock purchase money borrowed from a local lender. Provides an education experience for youth. Maximum loan amount is $10,000 and five-year term.

Program/Project Title: Conservation Tillage Loan
Program Began: 1990
Target Group: Conservation districts
Description: Loans available for 80 percent purchase of conservation tillage equipment and grass seeding and harvesting equipment. Available to conservation districts on low-cost rental basis. Maximum $30,000, interest rate is determined on the date of approval.

Program/Project: Cooperative Stock Guarantee Program
Program Began: 1998
Target Group: Farmers and ranchers
Description: This program allows farmers/ranchers to obtain loans for purchase of shares in eligible, producer-owned, value-added cooperative. The Department provides up to 50 percent guarantee on loans up to $20,000 for a term not greater than five years.

Program/Project: Agribusiness Bond Program
Program Began: 1997
Target Group: Agricultural processing and manufacturing businesses
Cost/Funding: Volume Cap: $30 million
Description: The program is a tax-exempt bond program available for value-added agriculture businesses. Maximum for this program is $10 million per project. Must meet IRS definition of manufacturing and processing.

Program/Project: Livestock Nutrient Management Program
Program Began: 2001
Cost/Funding: Volume Cap: $30 million
Target Group: Livestock producers
Description: Tax-exempt bond program for new and existing projects that involve livestock nutrient facilities. Tax exempt interest rates. Nutrient facilities include property or any portion thereof used for the collection, storage, treatment, utilization, processing, or final disposal of livestock nutrients.

Program/Project: Beginning Farmer Bond Program
Program Began: 1996
Cost/Funding: $10 million
Target Group: Beginning farmers/ranchers
Description: The program is a tax-exempt bond program available to individuals and partnerships that have never held substantial ownership or ownership interest in farm land. The program allows for the financing of agricultural land, improvements, and depreciable agricultural property. The aggregate maximum for the program is $450,000. Loans can be made by local lenders, contracts for deed, or individual bond purchasers.

Program/Project: Livestock Loan Participation Program
Program Began: 1989
Target Group: Farmers/ranchers
Description: Allows farmers/ranchers to obtain livestock loans with the Department participating up to 50 percent in the loan with a local lender. The maximum loan is $200,000 with a maximum participation amount of $100,000. Maximum term of 5 years.

Program/Project: Value-Added Livestock Underwriting (VALU) Program
Program Began: 1988
Target Group: Farmers/ranchers
Description: Allows farmers/ranchers to obtain livestock “purchase money” with up to 50 percent guarantee from the Department with a maximum guarantee of $50,000 for a term not greater than 26 months.

Program/Project: Value Added Agribusiness Relending Program
Program Began: 2001
Target Group: Agricultural businesses involved in processing
Description: A direct loan program which allows agricultural businesses in rural areas of South Dakota to obtain low interest loans to acquire new businesses, expand existing businesses, create employment opportunities or to save existing jobs, and to add value to South Dakota agricultural commodities through further processing or marketing. Maximum loan term is 10 years. Interest rate is determined on the date of approval. Maximum of 50 percent of project, up to $150,000.

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Joe R. Gaines
Tennessee Department of Agriculture
Market Development Division
PO Box 40627
Nashville, TN 37204-0627
Telephone: (615) 837-5160 FAX: (615) 837-5194
E-mail: joe.gaines@state.tn.us
Website: www.state.tn.us/agriculture

No agricultural loan programs available.

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Rick Rhodes
Texas Agricultural Finance Authority
PO Box 12847
Austin, TX 78711-2847
Telephone: (512) 936-0273 Toll Free: (877) 428-7848 FAX: (888) 216-9867
E-mail: rick.rhodes@tda.state.tx.us
Website: www.texasagriculture.gov
Organization Began: 1987


Program/Project Title: Agricultural Loan Guarantee Program
Program Began: 2009
Contact Person: Allen Regehr
Cost/Funding: Farm and ranch vehicle tag fees deposited to the Texas Agricultural Fund
Target Group: Agricultural Producers
Description: TAFA provides financial assistance to establish or enhance farming or ranching operations or to establish an agricultural-related business. The program provides loan guarantees based on a tiered structure, not to exceed $750,000 or 70% of the loan amount, whichever is less.  The program also provides an interest rebate up to $5,000 annually, as part of the guarantee process to eligible borrowers.  The proceeds of the commitment may be used to provide working capital, improvements, equipment, or real estate for the farm and/or ranch or agribusiness. Lender determines the Interest rates and are approved by the Authority.

Program/Project Title: Interest Rate Reduction Program
Program Began: 1998
Contact Person:  Allen Regehr
Cost/Funding: The allocation of State of Texas General Revenue by the Texas Legislature of not more than $30 million
Target Group: Ag entities that are: a) processing/marketing ag crops, b) producing alternative crops; c) producing crops which have declined due to a natural disaster; d) producing ag crops using water conservation equipment; and e) development of water conservation projects.
Description: Encourages private commercial lending at below market rates to eligible participants as outlined above. The proceeds of the commitment may be used for any ag-related operating expense, including purchase or lease of land or fixed asset acquisition or improvements. Interest rates are based on matching the loan maturity date to the closest treasury bill/note maturity date or the end of state’s fiscal biennium, typically below current market rates. The lender and borrower determine repayment, maturity, and collateral for the loan. The Interest Rate Reduction Program is an interest buy-down and not a guaranteed loan program.

Program/Project Title: Young Farmer Interest Rate Reduction Program
Program Began: 2009
Contact Person: Allen Regehr
Target Group: Agricultural Producers 18 to < 46 years old
Cost/Funding: TAFA Board allocated $1 million for 2011
Target Group:  Young agricultural producers 18 to less than 46 years of age.

Description: Encourages private commercial lending at below market rates to eligible participants as outlined above. The proceeds of the commitment may be used for any ag-related operating expense, including purchase or lease of land or fixed asset acquisition or improvements. Interest rates are based on matching the loan maturity date to the closest treasury bill/note maturity date or the end of state’s fiscal biennium, typically below current market rates. The lender and borrower determine repayment, maturity, and collateral for the loan.  The final interest rate under the Young Farmer Interest Rate Reduction program may be up to 1% less than the corresponding rate in the Interest Rate Reduction program. The Young Farmer Interest Rate Reduction Program is an interest buy-down and not a guaranteed loan program.

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Dick Sandberg, Administrator of Agricultural Loans
Utah Department of Agriculture and Food
350 N Redwood Rd
PO Box 146500
Salt Lake City, UT 84114-6500
Telephone: (801) 538-7030 FAX: (801) 538-4940
E-mail: rsandberg@utah.gov
Website: www.ag.utah.gov
Organization Began: 1971


Program/Project Title: Agriculture Resource Development Loan Program (ARDL)
Program Began: 1976
Contact Person: Dick Sandberg and Rich Leyba
Total Assets: More than $29 million
Target Group: Farmers and ranchers
Description: Low-interest loans are provided to farmers and ranchers for projects that meet the program’s conservation and pollution control goals. Examples of eligible projects include animal waste management, water usage management (irrigation systems), rangeland improvement, on farm energy projects and wind erosion control. Borrowers are charged 3 percent interest with a one time 4 percent administration fee, and loans have a maximum term of 12 years. The program now has assets totaling more than $29 million. Administration of the program is assisted by the local soil conservation districts and technical service is provided by the Natural Resources Conservation Service as well as other conservation partners.

Program/Project Title: Rural Rehabilitation Loan Program
Program Began: 1937
Contact Person: Dick Sandberg
Cost/Funding: Rural Rehab Programs total $20 million; Revolving loan fund
Target Group: Farmers and ranchers
Description: Low interest loans to farmers and ranchers; borrowers must not be able to receive conventional financing. Examples of eligible applications are beginning farmers and ranchers, upgrade of operations, and aid to distressed farmers. The program is funded by both State and Federal funds and now has total assets of approximately $20 million. Many of the loans are made jointly with the Farm Service Agency in their Beginning Farmer program. Loans are generally real estate secured and priced at 5 percent interest. Maximum term is 10 years, however, most are amortized at 20 years. Maximum loan size is $250,000.

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Ms. Rosalea W. Bradley, VEDA CEO
Ms. Sarah Isham, Senior Agricultural Loan Officer
Mr. Charles Keeler, Agricultural Loan Officer
Ms. Patricia Duffy, Agricultural Loan Officer
Mr. David Lane, Agricultural Loan Officer
Vermont Economic Development Authority
58 E State St, Ste 5
Montpelier, VT 05602-3044
Telephone: (802) 828-5627 FAX: (802) 828-5474
E-mail: sisham@veda.org; ckeeler@veda.org; pduffy@veda.org; dlane@veda.org
Website: www.veda.org
Organization Began: 1975

Program/Project Title: Vermont Agricultural Credit Corporation
Program Began: 1988
Contact Person: Sarah Isham/Charles Keeler/Patricia Duffy/David Lane
Target Group: Farmers who are not having their credit needs fully met by conventional agricultural credit sources at reasonable rates and terms.
Description: Direct lending program with loan limits of up to $1,112,000 per borrower. Preference is to participate with commercial lenders in large projects. Can make both operating loans and farm ownership loans. Many loans require a 90 percent FSA guarantee, but smaller loans may be made without a guarantee. Can also make loans for purposes not eligible for a guarantee (i.e., ag processing, custom operators, etc.).

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T. Robins Buck, Project Manager
Agribusiness Development Services
Virginia Department of Agriculture and Consumer Services
102 Governor St, Room 221
Richmond, VA 23219-3676
Telephone: (804) 371-6094 FAX: (804) 371-2945
E-mail: robins.buck@vdacs.virginia.gov
Website: www.vdacs.virginia.gov

No agricultural loan programs available.

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Dan Newhouse, Director
Washington State Department of Agriculture
PO Box 42560
Olympia, WA 98504-2560
Telephone: (360) 902-1887 FAX: (360) 902-2092
E-mail: dnewhouse@agr.wa.gov
Website: www.agr.wa.gov

No agricultural loan programs available.

David Clifton, Acting Director, Capital Projects
Washington State Housing Finance Commission
1000 Second Ave, Ste 2700
Seattle, WA 98104-1046
Telephone: (206) 287-4407 FAX: (206) 254-5357
E-mail: david.clifton@wshfc.org
Website: www.wshfc.org
Organization Began: 1983

Program/Project Title: Beginning Farmer/Rancher Program
Program Began: 2008
Cost/Funding: No state funds or guarantees
Target Group: Washington State beginning farmers and ranchers
Description: Bond program for beginning farmers and ranchers to buy land and equipment. Applicants must meet federal guidelines for the tax-exempt bond program. Application fee of $100; bond issuance fee of 1.5 percent; maximum loan amount of $450,000.

Program/Project Title: Nonprofit Facility Financing Program
Program Began: 1990
Cost/Funding: No state funds or guarantees
Target Group: Section 501(c)(3) nonprofit organizations
Description: Issue nonprofit revenue bonds to finance any capital expenditures for 501(c)(3) nonprofit organizations to support the exempt purpose. This includes educational, training, and research facilities with an agriculturally-related mission. Fees vary depending on bond structure. No maximum or minimum loan amount.

Rodney Wendt, Executive Director
Washington Economic Development Finance Authority
1000 Second Ave, Ste 2800
Seattle, WA 98104-1046
Telephone: (206) 587-5634
Email: wedfa@wshfc.org
Website: www.wedfa.org

Program/Project Title: Tax-Exempt Bond Program
Program Began: 1993
Cost/Funding: No state funds or guarantees
Target Group: Processing and manufacturing facilities, economic development projects, waste disposal and nutrient management facilities
Description: Bond program to finance processing and manufacturing facilities and farms and businesses with significant waste disposal issues. Individual projects are reviewed by the WEDFA Board. Fees vary depending on bond structure.

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Chris Ferro, Chief of Staff
West Virginia Department of Agriculture
State Capitol, Room E-28
Charleston, WV 25305
Telephone: (304) 558-3200 FAX: (304) 558-2203
E-mail Address: cferro@wvda.us
Website: www.wvagriculture.org
Organization Began: 1911

Program/Project Title: WV Rural Rehabilitation Fund
Contact Person: Producers, cottage industries and agribusinesses
Description: Farmers, cottage industries and agribusiness owners who have adequate experience and collateral can apply for loans up to $200,000 with interest rates as low as 3 percent. Also, $1,000 micro loans are available to 4-H and FFA students for their respective projects at 3 percent interest with a one-year term.

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Economic Development Department
Wisconsin Housing and Economic Development Authority (WHEDA)
201 W Washington Ave, Ste 700
Madison, WI 53703-2727
Telephone: (800) 334-6873 FAX: (608) 267-1099
E-mail: info@wheda.com
Website: www.wheda.com
Organization Began: 1972


Organization Title: Credit Relief Outreach Program (CROP) Guarantee
Contact Person: Courtney Searles
Target Group: Wisconsin residents who are actively engaged in the farm operation. May be used by partnerships, associations and corporations if legally registered in Wisconsin.
Description: Maximum guarantee is 80 percent on aggregated loan amounts of $60,000 or more. Maximum guarantee is 90 percent on aggregate loan amounts less than $50,000. Loan proceeds can only be used to pay for services or consumable goods necessary to produce an agricultural commodity. The commodity must be planted and harvested for consumption within the term of the loan. Livestock is eligible if purchased, fed, and sold within the term of the loan. Maximum interest rate is determined yearly by WHEDA. Maturity date is March 31 of the year following origination. Farmer’s debt to asset ratio must be at least 40 percent, but cannot exceed 85%.

Program/Project Title: Farm Asset Reinvestment Management (FARM) Guarantee
Program Began: 1996
Contact Person: Courtney Searles
Target Group: Wisconsin residents who are currently operating farm premises. May be used by partnerships, associations, and corporations legally registered in Wisconsin.
Description: Provides loan guarantee based on amount of FARM loan, borrower’s net worth, or program maximum of $200,000. Guarantee is limited to $100,000 if FARM loan is combined with other government financing programs. Eligible uses of loan proceeds limited to acquisition of agricultural assets defined as machinery, equipment, buildings, land or livestock kept for more than one year; or improvements to buildings or land for agricultural purposes; or WHEDA closing fees. Based on a current financial statement, the amount of farmer’s debts, including the FARM loan, may not exceed 85 percent of the farmer’s assets, including the value of assets acquired with the proceeds of the loan.

Program/Project Title: Agribusiness Guarantee
Program Began: 1990
Contact Person: Commercial Underwriter
Target Group: Businesses that create products using raw agricultural commodities.
Description: Create a product new to the business or expand production of an existing product that will increase the use of a raw agricultural commodity; or enhance the efficiency of the business. Business must be located in a Wisconsin municipality having a population of under 50,000 and must demonstrate it has made a notable effort to purchase a substantial percentage of its raw agricultural commodities from Wisconsin suppliers. Maximum guarantee is lesser of 80 percent or $600,000.

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Russ Noel, Appraisal Supervisor
Office of State Lands and Investments
122 W Twenty-Fifth St
Herschler Building 3W
Cheyenne, Wyoming 82002-0600
Telephone: (307) 777-5583 FAX: (307) 777-6526
E-mail: rnoel@state.wy.us
Website: http://slf-web.state.wy.us/
Organization Began: 1921

Program/Project Title: State Loan and Investment Board
Program Began: 1921
Contact Person: Russ Noel
Cost/Funding: $275 million from permanent Mineral Trust Fund
Target Group: Wyoming farmers and ranchers
Description: First mortgage real estate loans with maximum loan of $800,000.00 at 8 percent or 9 percent fixed over 30 year term.  Maximum loan to value is 50 percent to 60 percent.  Beginning agricultural producer loans at reduced rates for 10 years.  Borrower must be a Wyoming resident and security must be located in Wyoming.

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