HELENA, Mont. (NMB) – Young people active in rural youth organizations like 4-H and FFA may be eligible for loans up to $8,500 through Montana Department of Agriculture’s Junior Agriculture Loan Program.
In a press release, Department Director Ben Thomas said, “With the average age of farmers and ranchers being nearly 60 years old, its important we do what we can to encourage the next generation to stay involved in agriculture. The Junior Ag Loan Program is a great way for those folks to access financing for a project they are passionate about.”
This loan program was developed to assist and encourage members of agricultural youth organizations in financing ag projects. Projects can involved crop and livestock production, custom farming, marketing and distribution, processing, and other financially feasible activities. The Department may finance up to 90 percent of the project and the present interest rate is 5 percent, with repayment up to five years.
Applications and other information can be found on the Department’s website at agr.mt.gov.