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Financing Agriculture in South Dakota





SOUTH DAKOTA DEPARTMENT OF AGRICULTURE
NEWS RELEASE

 


FOR IMMEDIATE RELEASE: June 9, 2016
Media Contact: Jody Heemstra, 605.773.4073


Financing Agriculture in South Dakota


PIERRE, S.D.- The South Dakota Department of Agriculture (SDDA) has financial programs available for agricultural producers and agricultural related businesses.

 

The Department of Agriculture’s financial programs partner with lenders across the state to provide borrowers with lower interest rates. Programs are available for beginning farmers, livestock purchases, facility expansion, grain storage, manure management projects and value added businesses.

 

Tax-exempt bond programs can assist beginning farmers, agricultural processing businesses and livestock facilities, such as dairies or hog confinements, in obtaining lower interest rates on loans obtained through their local lenders.
Participation loans are also available for farmers and ranchers in South Dakota. The department partners with local lenders to finance livestock purchases and facility expansion projects.

 

“We have seen a lot of interest across the state in livestock development recently and our financial programs are a perfect fit for these projects,” says Terri LaBrie, finance administrator for the SD Department of Agriculture. “These programs may help provide a way to diversify your farming operation or allow for a son or daughter to come back to the farm.” (**Download LaBrie audio**)

 

For additional information on any of the financial programs offered through the SDDA, contact Terri LaBrie at 605.773.5436. All program summaries and application forms are available on the web at http://sdda.sd.gov/finance/.

 

Agriculture is a major contributor to South Dakota’s economy, generating $25.6 billion in annual economic activity and employing over 115,000 South Dakotans. The South Dakota Department of Agriculture's mission is to promote, protect, preserve and improve this industry for today and tomorrow. Visit us online at http://sdda.sd.gov or find us on Facebook and Twitter.

 

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