Following the news coming from Governor Parson’s Drought Assessment Committee, State Treasurer Vivek Malek announced he is keeping his office’s Farm Relief Loan Program open through October. The new deadline is October 31st. The Farm Relief Loan program was created to prioritize low-interest loans through the MOBUCK$ program for farmers and ranchers affected by drought.
“Agriculture is the most important industry in Missouri. I’m proud to continue helping farmers deal with drought and crippling inflation with the Farm Relief Loan program.”
Beginning on August 17, 2023, the State Treasurer’s Office started accepting applications for Farm Relief Loan program loans. Using the Farm Relief Loan program allows lenders to lower the interest rates to the borrower by about 2-3 percent.
Malek added “Missouri’s farmers and ranchers have been hit with so much, but they get right back up and keep feeding the world. That’s why I’m encouraged to see such demand for our Farm Relief Loan program.”
Since the program opened mid-August, the State Treasurer’s Office has approved $29,210,000 in loans to help farmers get low-cost operating loans. Loans are capped at $1M per borrower. Anyone interested in applying should consult their lender or contact the State Treasurer’s Office at (573) 751-9443 or this link.