PRESS RELEASE
Missouri State Treasurer Vivek Malek Announces Two Week Extension of Farm Relief Loan Program
Friday, October 13, 2023
FOR IMMEDIATE RELEASE
Contact: Ray Bozarth,
573-298-1654
JEFFERSON CITY, MO – 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 visit mobucks.mo.gov.
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