News Release 695

Department offers $4.5 million in low interest loans under the Energize Missouri Agricultural Loan Program

Volume 38-695 (For Immediate Release)
For more information: 573-751-1010 

JEFFERSON CITY, MO, DEC. 16, 2010 – The Missouri Department of Natural Resources today announced that it will offer low interest loans to Missouri farmers for energy efficiency projects under the Energize Missouri Agriculture - Agricultural Energy Loan Program.

This is the first agricultural loan program administered by the department. This loan program supports other agricultural programs administered by the department, including the Energize Missouri Agriculture cost share program and the Energize Missouri Agriculture Field Day: Energy Training program.

The department is offering $4.5 million in financing with a 3 percent APR for eligible projects. The loan program will provide $30,000 to $500,000 in funding to update and improve agricultural measures that will result in reduced energy costs and energy savings. Examples of eligible projects include energy efficient equipment, lighting, ventilation, heating/cooling and heat recovery systems.

“Agricultural production and environmental protection are inextricably intertwined,” said Kip Stetzler, Acting Director of the Missouri Department of Natural Resources. “The projects implemented as a result of these loans will help farms and producers save money and they will help the environment through increased energy efficiency. We are very excited for the program launch and based on the response, we anticipate this program will be very successful.”

The department will host a webinar on Jan. 13, 2011, to provide applicants with an overview of the Agricultural Energy Loan Program.

 Energize Missouri Agriculture is soliciting and receiving project applications for the Agricultural Energy Loan Program through a competitive application process. Applications must be submitted to the department by Feb. 15, 2011, and are available on the department’s Website at dnr.mo.gov/transform/energizemissiouriagriculture.htm. For more information about the program and the webinar call 877-610-0834 or email EMA.loans@shawgrp.com

The department will award up to $4.5 million in loans. The department has made Energize Missouri Agriculture loans available through funding received from the American Recovery and Reinvestment Act of 2009. The department is administering more than $200 million in Recovery Act funding to support Energize Missouri projects to create jobs and improve energy efficiencies and renewable energy for Missouri. The department is committed to working closely with businesses, agricultural entities, industries and communities to assist with funding efforts that support energy efficiency and renewable energy projects and provide financial savings.

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