JEFFERSON CITY — Following news coming from Gov. Mike Parson’s Drought Assessment Committee, State Treasurer Vivek Malek announced he is keeping his office’s Farm Relief Loan …
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JEFFERSON CITY — Following news coming from Gov. Mike 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 Oct. 31. The Farm Relief Loan program was created to prioritize low-interest loans through the MOBUCK$ program for farmers and ranchers affected by drought.
Beginning on Aug. 17, 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 to 3 percent.
“Missouri’s farmers and ranchers have been hit with so much, but they get right back up and keep feeding the world,” said Malek. “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 $1 million per borrower. Anyone interested in applying should consult their lender or contact the State Treasurer’s Office at 573-751-9443 or mobucks.mo.gov.
