The South Dakota Department of Agriculture (SDDA) has financial programs available for agricultural producers and agriculture-related businesses.
SDDA�s financial programs partner with lenders across the state to provide borrowers with lower interest rates. Programs are available for livestock purchases, facility expansion, grain storage, and value-added projects.
Tax-exempt bond programs are also available. The Beginning Farmer Bond program provides lower interest rates to qualified beginning farmers on land and depreciable agricultural property, as well as tax benefits for a contract seller or commercial lender. Program maximums for 2011 have been increased to $477,000.
The Agribusiness Bond Program is available for any agricultural processing or manufacturing business located in South Dakota. The program provides tax benefits to commercial lenders or investors while providing a lower interest rates to the businesses.
The Livestock Nutrient Management Program is a tax-exempt bond program available for manure management projects involving feedlots, dairies, and hog confinements. Any costs associated with the collection, storage, treatment, and utilization of livestock nutrients are eligible. Projects must be located in South Dakota. Other agricultural businesses in South Dakota with waste components may also be eligible.
For additional information on any of the financial programs offered through SDDA, contact local lenders or call SDDA at 605-773-5436. All program summaries and application forms are available on the Web at http://sdda.sd.gov/.
Agriculture is South Dakota�s No. 1 industry, generating nearly $21 billion in annual economic activity and employing over 143,000 South Dakotans. The South Dakota Department of Agriculture's mission is to promote, protect, preserve and improve this industry for today and tomorrow. Visit us online at http://sdda.sd.gov/ or follow us on Facebook.