Low-Interest Loan Program

The Spokane County Conservation District currently has loan funds available to help producers purchase the equipment necessary for:

• making the transition from conventional to conservation tillage/direct seeding operations
• implementing alternatives to field burning

These funds are made available by the Washington State Department of Ecology and the Environmental Protection Agency through the State Revolving Fund (SRF) Program. The program is designed to aid in the reduction of non-point source pollution, such as that created by the erosion of agricultural lands.

The funds are limited so each application will be processed immediately upon submission.

Eligible Purchases Include:

• Implements which aid in the direct placement of seed and/or fertilizer in one or two passes
  (no-till and minimum tillage drills, air drills, fertilizer placement implements, sprayers and power units)
• Implements that aid in the removal or management of residue ( heavy harrows, mowers / shredders, swathers, balers and bale handling equipment
• Buildings for the storage of baled straw residue

Loan Terms:

• Call for current loan rates
• 25% down payment required

Loan Criteria:

• Applicant must farm in one of the designated counties or within the boundaries of one of the conservation districts participating in the program.
• Loan-to-value ratio shall not exceed 75% based upon cost or appraised value of collateral.
• Applicant must verify down payment of 25% on the implement before loan money is distributed.
• The average length of contracts is five years with five annual payments. The first payment due one year from the date the funds are distributed.
• Applicant shall furnish a letter from their primary lender approving additional debt incurred by applicant and a copy of the invoice from the seller of the equipment showing make, model, serial number, purchase price, and any trade in allowance.
• Spokane County Conservation District shall have first position as lien holder on UCC file for the implement.
• Applicant must provide proof of full coverage insurance with Spokane County Conservation District listed as loss payee on financed equipment.
• Operators receiving loans shall assist the District in assessing impact of implement on water quality (erosion rates) for duration of loan.
  

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