North Dakota announces Livestock Feed Loan Program
BISMARCK — The North Dakota Industrial Commission on Tuesday, Dec. 17, approved a new Bank of North Dakota feed loan program to aid ranchers impacted by extreme weather.
Loans through the Livestock Feed Loan Program may be used to buy feed; to pay expenses incurred for haying remotely, hauling hay or hauling livestock to a feedlot; to pay feedlot fees; and to cover the cost of harvesting cash crops.
“This is the first step in assisting with an immediate need for livestock producers,” said Eric Hardmeyer, president of the state-owned bank. “We expect to announce more support for the state’s farmers in January but are assessing the exact needs with our partners before announcing that program.”
Livestock producers can access the feed loan program by working with their local lender. Loans will be made at a fixed annual percentage rate of 3.75%. More information is available at www.bnd.nd.gov.