Low Interest Loans for Conservation Practices
Are you thinking about that field that is in need of some terraces or grassed waterways, and have applied for state cost share, REAP or EQIP funds to help get them installed and wonder how to pay for the rest of your project? Well consider the Low Interest Loans that are available through the Local Water Protection Program. Producers can apply for loan assistance in which the producer would be eligible for five to fifty thousand dollars, with loan terms up to 10 years and animal feeding operation loans terms being up to 20 years. You could also fund your whole project through the Low Interest Loan Program if state and federal funds are not available. Interest rates of no more than 3 percent and the funding is available when you need it and the producers can sign up any time during the year. Use the lender of your choice or go to www.ifaprograms.com to view the list of current participating lenders. Loans to implement practices for animal feeding operations can only be made to operations that are under 1,000 animal units and are not required to have an NPDES permit. This program has been around since 2005. Landowners can loan 100% of project cost through this loan program also. Conservation practices that producers could use these loan for are grade stabilizations structures, terrace systems, prescribed grazing systems, grassed waterways and waste management projects. Producers must work with their local bank to administer the loan. Stop in the SWCD office for more information.