Minnesota

The project will expand the nation's first agricultural Individual Development Account (IDA) pilot programs to 8 states in order to assist beginning farmers in building an asset base for land purchases and capital expenditures.

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Minnesota Agriculture Commissioner Gene Hugoson has announced the recipients of the state’s second round of Livestock Investment Grants.  Fifty producers were selected to share $1 million in grants aimed at boosting the state’s livestock sector.

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The Aggie Bond Loan Program is a federal bonding program administered by the State through its Rural Finance Authority. The program offers affordable financing for a qualified beginning farmer. This is accomplished by securing for the applicant a reduced interest rate on the loan they are submitting for approval under the program.

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The Sustainable Agriculture Loan funds capital purchases that will lead them to a more sustainable farming system. Proposed project must make efficient use of resources, benefit the environment and show a reasonable return on the additional investment. Applicants must be residents of the State of Minnesota who are actively engaged in farming.

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The Livestock Equipment Pilot Loan Program is designed to help finance the purchase of livestock-related equipment. Loans may be used for the acquisition of equipment for animal housing, confinement, animal feeding, milk production and waste management.

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The Seller Assisted Loan Participation Program is a cooperative financing effort involving a buyer, a seller, a local lender, and the Minnesota Rural Finance Authority. Under this program, each seller actively participates in financing the sale of their farm by providing a portion of the financing.

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PROGRAM NO LONGER RUNNING The Sowing the Seeds of Hope program (1999-2010) provided behavioral health services to uninsured, underinsured and other at-risk farm and ranch families and agricultural workers. Seven states (Iowa, Kansas, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin) formed the regional program in 1999.

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The Basic Farm Loan Program was established to help people who want to farm in Minnesota. The program offers affordable financing, a reasonable down payment and built-in safeguards, such as farm management training and financial planning to help minimize the risk all farmers face.

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The Aggie Bond Loan Program is a federal bonding program administered by the State through its Rural Finance Authority. The program offers affordable financing for a qualified beginning farmer by securing a reduced interest rate on the loan the applicant is submitting for approval under the program.

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