By Blake Jackson
The Missouri Farm Relief Loan Program, which helps farmers and ranchers affected by drought, has been extended to October 31, 2023. The program is part of a partnership between the Missouri State Treasurer's Office and Missouri banks and provides low-interest loans to borrowers.
To qualify for a Farm Relief Loan, farmers and ranchers must be located in a county that has been declared a drought disaster area by the Governor of Missouri. Loans are capped at $1 million per borrower and can be used for a variety of purposes, including operating expenses, livestock feed, and crop production costs.
Since the program opened in August, the State Treasurer's Office has approved $29.2 million in loans.
"Agriculture is the most important industry in Missouri, and I'm proud to continue helping farmers deal with drought and inflation with the Farm Relief Loan program," said State Treasurer Vivek Malek.
Anyone interested in applying should consult their lender or contact the State Treasurer’s Office at (573) 751-9443.
Photo Credit: pexels-karolina-grabowska
Categories: Missouri, Business