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State ag department wants to be a direct lender to producers
News Staff - August 1, 2018

PIERRE, SD – The public is being asked to comment on a proposal from the South Dakota Department of Agriculture that wants the authority to loan money directly from state government to small or beginning farmers.

Currently the department must use a local lender such as a bank or a credit union.  Under the proposed change, the state’s ag department would have the flexibility to set interest rates on the direct loans.

The definition of a small or beginning farmer also would be expanded to be a person who has minimal net worth, is under the age of 40 or has been farming less than five years.

Proposed additions and repeals to the ag programs in South Dakota can be heard during a public hearing set for Monday, August 6, 2018. The proposals are available for review on line at https://bit.ly/2LRQvj7

Among other changes, soil conservation commissions could borrow up to $100,000 for equipment.  The current limit is $30,000

The public hearing will be held at the Matthew Training Center in Pierre, SD, beginning at 10:00a.m. (CT).

Written comments are also being taken and must be received no later than August 16, 2018  at the department’s Division of Ag Development.



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