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Rural Assistance Loans

Other Requirements

 

 

  • Cattle or horses that are used as collateral must be branded with a brand registered with the Montana Department of Livestock.
  • Good records of production and expenses are required.
  • Borrowers will pay the fees required to file, continue, or release financing statements, brand liens, and mortgages.
  • Applicants may be required to establish a joint checking account with the department. Loan funds would be deposited in this account and used for financial transactions related to the loan.
  • Comprehensive insurance or crop insurance may be required on secured or mortgaged property.
  • For real estate loans, the department requires a first mortgage position and title insurance in the name of the department.
  • A qualified appraisal may be required to determine the value of assets or collateral property

 

 
 

Contacts

 

Rural Development Bureau

Montana Department of Agriculture
P.O. Box 200201
Helena, MT 59620-0202
Phone: (406) 444-2402
Fax: (406) 444-9442

agr@mt.gov

 

 

Published: October 12, 2011 10:33:00 AM MDT.
Last Modified: November 8, 2011 9:14:52 AM MST