Missouri Specialty Agricultural Crops Loan Program

The Missouri Agricultural and Small Business Development Authority offers tax credits to lenders making loans for specialty crop farming resources to family farmers. The program waives interest during the first year of qualifying loans.

Family farmers (borrowers) are Missouri residents with less than $100,000 in annual agricultural product sales, providing proof of citizenship, identity, and residence, limited to one loan per family, with the application submitted within 60 days of the loan promissory note date. Lenders (tax-credit recipients) are state or national banks, farm credit systems, banks for cooperatives, and savings and loan associations subject to state or federal credit examination.

Maximum loan amount is $35,000, and the eligible advance cannot exceed 90% of the specialty crop farming resource purchase cost. The lender waives the first year's interest and receives a tax credit equal to up to 100% of the approved first year's interest waived on a qualified eligible loan. The statewide annual cap is $300,000 across all eligible lenders.

Application materials are available through MASBDA at (573) 751-2129 or masbda@mda.mo.gov.