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Department of Agriculture spotlights Junior Ag Loans

Posted at 9:26 PM, Feb 22, 2019
and last updated 2019-03-11 16:36:41-04

HELENA – The Montana Department of Agriculture is bringing awareness to their Junior Ag Loans which have been loaning money to students interested in a career in agriculture for over 40 years.

The Junior Ag loans program was designed to help youth finance projects ranging from livestock and crop production, to marketing, distribution and processing and serve as not only money for students but as learning tool for more financial responsibility for the future.

Walt Anseth, Business Development Director for the Department of Agriculture said, “I was unaware of this program until I started working for the department 15 years ago. We are trying to get the word out, it’s been around for over 40 years, but we want to have more kids involved with it.”

Junior Ag Loans are for anyone who is interested in a career in farming and agriculture.

Anseth continued, “It’s a revolving loan fun, a small portion of it goes out for operating costs. We want this money to be out there for the youth of Montana.”

Those active in rural youth organizations like 4-H and FFA (Future Farmers of America) are eligible for loans up to $8500 and can finance up to 90 percent of the project with interest rates as low as five percent.

Borrowers can take up to five years to repay the loan and according to the Montana Department of Agriculture, more than 65 youth are currently participating through the Junior Ag Program.