Maine Feeder Cattle Loan Program
The Maine Feeder Cattle Loan Program offers low-interest loans to help Maine beef producers purchase feeder cattle and support agricultural growth.
Funder: Maine Department of Agriculture Conservation and Forestry
Due Dates: Rolling (no set deadlines; apply anytime while funds are available)
Funding Amounts: Up to $50,000 per loan, not to exceed 90% of the total purchase price; 5% interest rate; up to 12-month term.
Summary: Provides low-interest loans to Maine farmers for the purchase of feeder cattle to support agricultural viability and development.
Key Information: Proof of commercial credit denial and a detailed business plan are mandatory for eligibility.
Description
The Maine Feeder Cattle Loan Program, administered by the Agricultural Resource Development Division of the Maine Department of Agriculture, Conservation and Forestry, offers low-interest loans to support the purchase of feeder cattle. As part of the Rural Rehabilitation Assistance Loan Program, this initiative aims to enhance the economic viability of Maine’s agricultural sector by providing accessible financial resources for livestock acquisition. The program is funded through the Rural Rehabilitation Trust Fund and is specifically designed to help Maine beef producers who are unable to secure commercial financing at reasonable rates.
