HELENA, Mont. -- Young people active in rural youth organizations like 4-H or FFA may be eligible for agricultural loans for their projects, up to $8,500.
More than 70 farm and ranch youth currently take advantage of the Montana Department of Agriculture’s Junior Agriculture Loan Program, says Ag Finance Officer Walt Anseth.
The program is designed to help rural youth develop or expand livestock or agri-business projects. The department may finance up to 90 percent of the project. The present interest rate is 6 percent, with repayment up to five years.
Program benefits can far exceed the actual loan for active participants, Anseth says. Many young men and women who are unable to secure conventional financing due to age, inadequate collateral or credit history have used the program to establish financing experience and to advance their project’s monetary value.
Additional information on this loan program or others available through the Department of Agriculture may be obtained by calling Anseth in Helena at (406) 444-2402.
Published: October 17, 2012 3:40:00 PM MDT.
Last Modified: October 17, 2012 4:46:42 PM MDT