Loan rate reduced for disaster-stricken farmers and ranchers
PIERRE — The South Dakota Department of Agriculture has announced a rate reduction on the existing Livestock Loan Participation Program for producers located in a South Dakota federally disaster designated county due to the Atlas Blizzard.
Applicants in eligible counties can receive a lowered interest rate of 2.75 percent if the applicant is at least 18 years old and has 60 percent of gross income from farming and ranching or farming and ranching labor. This rate is available on applications received before Dec. 31. Producers not located in an eligible county can apply for the currently fixed interest rate of 4 percent.
Eligible counties include Bennett, Butte, Campbell, Corson, Custer, Dewey, Fall River, Haakon, Harding, Jackson, Jones, Lawrence, Lyman, Meade, Mellette, Pennington, Perkins, Potter, Shannon, Stanley, Sully, Todd, Tripp, Walworth and Ziebach.
For details on all financial programs offered through SDDA, contact Terri LaBrie, finance administrator, at (605) 773-4026, or visit the website at http://sdda.sd.gov/finance.
— Source: South Dakota Department of Agriculture