Martin Soil and Water Conservation District

923 N. State Street, Suite 170, Fairmont, MN  56031

(507) 235-6680

STATE REVOLVING FUND       

 

Agriculture Best Management Practices Loan Program
 

Fact Sheet
The Agriculture Best Management Practices Loan Program (AgBMP) which was created by the 1994 state legislature brings low interest loans to farmers and other rural landowners for the mitigation and prevention of non-point source pollution.  The program is funded through the State Revolving Fund (SRF) which was a result of the 1987 Federal Clean Water Act.
 
Low interest loans are available to farmers and rural landowners in Martin County to bring their livestock holding facilities and septic systems into conformance with water quality standards and also to help implement other storm water control practices such as those needed to protect stream bank, lakeshore, roadside and agricultural land from erosion.  The maximum loan amount per applicant is $50,000. 
 
To be eligible, projects must be located in the rural areas of Martin County.  Individuals need to stop by Martin SWCD for a loan application packet.  Applicants will need to provide documentation of a bid and any related information about the proposed project to be funded and the desired loan amount.
 
These low interest loans of 3% plus 1.5% origination fee, will be available for:  
(1) Livestock holding facilities and agricultural waste management projects and activities; including runoff control structures, agricultural waste systems or pits and manure handling equipment.
2) Purchasing conservation tillage equipment such as chisel plows, no-till drills and no-till planters. 
(3)  Conservation practices such as terraces, water and sediment basins, grassed waterways and gully control structures.
(4)  Upgrades and improvements to existing individual sewage treatment systems.
 
For further information please contact Kathy Smith at (507) 235-6680 or e-mail:  kathy.smith3@mn.nacdnet.net.
 
AG BMP STATE REVOLVING FUND PROGRAM
Procedure for Enrollment:
 1.  Producer comes into our office to explain what they are interested in doing.
 2.  Martin SWCD determines if producer is eligible (eligibility and non-eligibility described on bottom of page).
 3.  If eligible, producer then needs to supply Martin SWCD with a bid for the project they are interested in doing, and brings bid into us.
 4.  Martin SWCD will fill out the AGBMP Loan Application form and sign the form "Project Approved by" and "Approval Date."   A copy will be kept for AGBMP file at Martin SWCD. 
 5.  Landowner then takes the original form to Welcome State Bank and works with Mark Stoffel to finalize the project funding. Landowner will need to bring the following:
  1. signed and approved project application from Martin SWCD;
  2. current Financial Statement (within last 90 days);
  3. cash Flow from the up-coming crop year;
  4. last three (3) year tax returns.
(Martin SWCD will receive a 0.50% application fee that will be deducted from you loan proceeds along with any recording fees (usually $15.00).
 
EQUIPMENT LOANS
Eligible:

Conservation Tillage Equipment:  Disk Chisel, V-Ripper, No-till Drill, No-till planter attachments.  These listings will be 3% loans on 80% of the total bid with a 5 year payback.

 

Septic Systems Upgrades:  For up-grades on existing acreages, and also for new building sites that reside in Rural Areas.  These listings qualify for a 3% loan for 100% of the total bid with a 5 year payback.

 

Ag Waste:  Such as a Slurry tank with disk cover attachments.  Funding for Ag Waste will qualify for a 3% loan on 60% of the total bid with a 3 year payback
 
MAXIMUM LOAN AMOUNT:  $50,000
 
Not Eligible:
 1.  Ag Waste if over 1000 animal units.
 2.  Septic Systems if it is a new housing complex.
 3.  Equipment loan if more than 1000 feet from surface water where equipment will be used. 
 

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The contents are the property of Martin SWCD.  The District's goal is to provide quality and accurate information.  All information within this site is subject to change and should only serve as a guideline for the District's services and procedures.  For the most Current and accurate information please contact the District at (507) 235-6680.