SOUTH DAKOTA   Mike Schelske, Executive Director South Dakota Department of Agriculture 523 East Capitol Avenue Pierre, SD 57501-3182 Telephone: (605) 773-5436 FAX (605) 773-3481 Web: www.state.sd.us/doa/ag_dev/loan/ E-mail Address: mike.schelske@state.sd.us Program/Project Title: Rural Development Loan Participation Program Program Began: 1988 Target Group: Value added production, processing, and marketing projects. Description: This program provides a lower cost participation loan for value-added production, processing, and marketing projects. Eligible uses include land, buildings, improvements, and equipment. Production agriculture land is not eligible. Participation amounts cannot exceed the lesser of 80 percent of the loan amount or $300,000. Program/Project Title: Junior Livestock Loan Guaranty Program Program Began: 1992 Target Group: Youth between ages of 12-18 and members of 4-H or FFA. Description: This program provides a 30 percent guarantee on livestock purchase money borrowed from a local lender. Provides an education experience for youth. Maximum loan amount is $10,000 and five-year term. Program/Project Title: Conservation Tillage Loan Program Began: 1990 Target Group: Conservation districts Description: Loans available for 80 percent purchase of conservation tillage equipment and grass seeding and harvesting equipment. Available to conservation districts on low-cost rental basis. Maximum $30,000, interest rate is determined on the date of approval. Program/Project: Cooperative Stock Guarantee Program Program Began: 1998 Target Group: Farmers and ranchers Description: This program allows farmers/ranchers to obtain loans for purchase of shares in eligible, producer-owned, value-added cooperative. The Department provides up to 50 percent guarantee on loans up to $20,000 for a term not greater than five years. Program/Project: Agribusiness Bond Program Program Began: 1997 Target Group: Agricultural processing and manufacturing businesses Cost/Funding: Volume Cap: $30 million Description: The program is a tax-exempt bond program available for value-added agriculture businesses. Maximum for this program is $10 million per project. Must meet IRS definition of manufacturing and processing. Program/Project: Livestock Nutrient Management Program Program Began: 2001 Cost/Funding: Volume Cap: $30 million Target Group: Livestock producers Description: Tax-exempt bond program for new and existing projects that involve livestock nutrient facilities. Tax exempt interest rates. Nutrient facilities include property or any portion thereof used for the collection, storage, treatment, utilization, processing, or final disposal of livestock nutrients. Program/Project: Beginning Farmer Bond Program Program Began: 1996 Cost/Funding: $10 million Target Group: Beginning farmers/ranchers Description: The program is a tax-exempt bond program available to individuals and partnerships that have never held substantial ownership or ownership interest in farm land. The program allows for the financing of agricultural land, improvements, and depreciable agricultural property. The aggregate maximum for the program is $450,000. Loans can be made by local lenders, contracts for deed, or individual bond purchasers. Program/Project: Livestock Loan Participation Program Program Began: 1989 Target Group: Farmers/ranchers Description: Allows farmers/ranchers to obtain livestock loans with the Department participating up to 50 percent in the loan with a local lender. The maximum loan is $200,000 with a maximum participation amount of $100,000. Maximum term of 5 years. Program/Project: Value-Added Livestock Underwriting (VALU) Program Program Began: 1988 Target Group: Farmers/ranchers Description: Allows farmers/ranchers to obtain livestock “purchase money” with up to 50 percent guarantee from the Department with a maximum guarantee of $50,000 for a term not greater than 26 months. Program/Project: Value Added Agribusiness Relending Program Program Began: 2001 Target Group: Agricultural businesses involved in processing Description: A direct loan program which allows agricultural businesses in rural areas of South Dakota to obtain low interest loans to acquire new businesses, expand existing businesses, create employment opportunities or to save existing jobs, and to add value to South Dakota agricultural commodities through further processing or marketing. Maximum loan term is 10 years. Interest rate is determined on the date of approval. Maximum of 50 percent of project, up to $150,000.   Choose another state ...

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