Financial Assistance Programs

The South Dakota Department of Agriculture (SDDA) in conjunction with the South Dakota Value Added Finance Authority (VAFA) offers financial assistance to South Dakota's farmers and ranchers as well as value-added businesses.

The VAFA's mission is to provide lower cost financing, which is achieved by acting as a conduit to issue federally tax-exempt bonds. The VAFA is a seven member board appointed by the Governor. The board usually meets the last Thursday of the month, providing timely approval of applications.

The VAFA was formed in 1996 and as of June 30, 2011, over $91 million of tax-exempt bonds have been issued! Tax-exempt bond programs are available for Beginning Farmers, Agribusinesses, and Manure Management Facilities. The VAFA also administers a direct loan program for small, ag processing businesses. This program provides up to $150,000 at a low interest rate.

• Agribusiness Bond
• Beginning Farmer Bond
• Livestock Nutrient Management Bond
• Value Added Agribusiness Relending Program
  

The programs through the SDDA work with your local lender to provide reduced interest loans and/or guarantees. Low interest participation loans are available for value added projects and livestock purchase participation loans and guarantees are available as well.

• Building Our South Dakota Rural Communities Grants
• Conservation Tillage Loan
• Cooperative Stock Guaranty
• Beginning Farmer Down Payment Guaranty
• Livestock Loan Participation
• Rural Development Agricultural Loan Participation
• Value Added Livestock Underwriting (VALU) Guaranty
  

For a quick overview of programs, eligibility criteria, maximum amounts, and deadlines click here.

For information on Financial and Loan Programs contact:

Terri LaBrie, Loan Administrator
Paula Gregg, Finance Program Specialist
605-773-5436

"In accordance with Federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, age, disability, religion, sex, and familial status. (Not all prohibited bases apply to all programs).

To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410 or call (800) 795-3272 (voice) or (202) 720-5964 (TDD)."