The Missouri Department of Agriculture’s Crop and Livestock Loan Program is changing from an interest rebate program to one that guarantees student agricultural project loans. The program has been established to rebate the interest paid on loans made to FFA and 4-H members for agricultural-related projects.
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The Missouri Department of Agriculture’s Crop and Livestock Loan Program is changing from an interest rebate program to one that guarantees student agricultural project loans.
The program has been established to rebate the interest paid on loans made to FFA and 4-H members for agricultural-related projects. Under the revised program, the department’s Agriculture Development Fund will guarantee 50 percent of loan amounts up to $3,000 for a period of two years. In addition, the fund also will offer direct, long-term loans to 4-H or FFA members to finance supervised, alternative agriculture projects.
“We must revise our programs to meet the needs of a changing agricultural industry,” said John L. Saunders, state agriculture director. “Taking this program in a new direction will help producers and students pursue their goals and maintain family farming operations through innovative and value-added enterprises.”
The changes will affect all loans awarded after June 30, 1999. Loans made prior to that date still are eligible for rebates as defined under the previous policy.
For more information about the Crop and Livestock Loan Guarantee Program or the Alternative Loan Program, contact the Agriculture Development Fund at (573) 751-5618, or write the Missouri Department of Agriculture, Market Development Division, Agriculture Development Fund, P.O. Box 630, Jefferson City, MO 65102.