Maine Beef Cattle Breeding Stock Loan Program
This program offers low-interest loans to Maine farmers to purchase beef cattle breeding stock and land, supporting the expansion and improvement of local beef cattle operations.
Funder: Maine Department of Agriculture Conservation and Forestry
Due Dates: Rolling (no specific deadline)
Funding Amounts: Up to $50,000 per loan (not to exceed 90% of purchase price); low-interest (5%), up to 24 months
Summary: Low-interest loans for Maine farmers to purchase beef cattle breeding stock and related land, supporting agricultural development.
Key Information: Applicants must show denial of commercial credit and submit a business plan.
Description
This program, administered by the Agricultural Resource Development Division of the Maine Department of Agriculture, Conservation and Forestry, provides low-interest loans to Maine farmers for the purchase of beef cattle breeding stock and related land. The initiative is part of the Rural Rehabilitation Assistance Loan Program and is funded by the Rural Rehabilitation Trust Fund. Its goal is to enhance the economic viability of Maine's agricultural sector by enabling farmers to expand or improve their beef cattle operations.
