FOR IMMEDIATE RELEASE
November 4, 2025
Contact: Briana Vande Pol 

GOVERNOR RHODEN AND GOED LOWER INTEREST RATES TO SUPPORT SOUTH DAKOTA’S FARMERS AND RANCHERS 

PIERRE, S.D. – Governor Larry Rhoden and the South Dakota Governor’s Office of Economic Development (GOED) have announced lower interest rates for the state’s Rural Development loan programs, giving farmers and ranchers greater financial flexibility. 

The rate reductions, which took effect October 21, 2025, lower the base interest rate to 3.5 percent, with a 2.5 percent rate available to qualified beginning farmers and ranchers. The GOED Loan Committee voted to make the change following a review of federal rate adjustments and statewide lending conditions. 

“Ag is king in South Dakota, and we’re backing that up with action,” said Governor Rhoden. “By lowering these interest rates for rural development, we’re helping producers invest in their operations and strengthen their communities. This action keeps South Dakota Open for Opportunity and focused on long-term growth.” 

“When the Federal Reserve lowered its benchmark rate, we took a hard look at how our programs could better serve South Dakotans,” said Commissioner Even. “Whether its’s a young rancher taking their first step or a family operation expanding their herd, this decision supports the future of South Dakota agriculture.” 

The Rural Development programs provide financing for land, equipment, and livestock. Only a few producers access these programs in a typical year, but GOED hopes the new rates will change that. By working with local lenders and purchasing participations when needed, the agency can help more farmers and ranchers secure the capital they need to grow. 

Producers interested in learning more about the Rural Development programs or determining eligibility for the new rates can visit sdgoed.com or contact GOED’s financing team. 

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