Dairy Farm Reinforcement Program Loans
Commissioner F. Philip Prelli is pleased to announce that low interest loans from the Department of Economic Development and Community Development (DECD) are available to Connecticut dairy farmers.
The Dairy Farm Reinforcement Program announced by Governor M. Jodi Rell July 7, 2006, is designed to help the dairy industry reverse recent financial losses by providing grants, loans and access to credit to offset costs incurred due to federal price controls and high energy costs.
The loans are available to licensed dairy farmers in this state.Loans may be used for:
- Rolling Stock
- Planning, feasibility studies, engineering, appraisals, market studies
- Machinery and equipment or any combination, provided such assistance does not exceed the fair market value
- Construction of site and infrastructure improvements
- Construction/renovation/demolition of buildings
- Business support services such as labor training, day care, energy conservation, pollution control, recycling and the like, in conjunction with other state agencies
- Working capital
Completed applications must be sent to Connecticut Department of Agriculture as indicated on the application. The Department of Agriculture will do a preliminary review, then will forward applications to the Department of Economic and Community Development (DECD) as DECD has final say on whether a loan is approved or denied. Loan applications for business enhancement projects such as expansion or diversifying your business also need a business plan attached.
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