Virtually all practices eligible for State Cost Share, REAP and EQIP are eligible for loans. These practices may include but are not limited to:
Terraces, grade stabilization structures, water & sediment control basins
Pasture & hay land planting or prescribed grazing
Grassed waterways and filter strips
Field borders, windbreaks and buffers
Waste storage facilities
Deep bedded buildings or other roofed manure control structures
Equipment to process manure if required under a manure management plan
**Loans to implement practices for animal feeding operations can only be made to operations that are under 1,000 animal units and are not required to have an NPDES permit**
What are the Loan Terms?
Loans from $5,000 to $50,000 (or more for improvements to animal feeding operations)
Terms up to 10 years or up to 20 years for animal feeding operation loans
Can fund up to 100% of actual costs
Interest rate no more than 3% - fixed for the life of the loan
Funding available when you need it, applications accepted year round
Use the lender of your choice or go to www.ifaprograms.com to view the list of current participating lenders
How to Apply
Begin by talking to your local Soil and Water Conservation District (SWCD)
What is a Linked Deposit Loan?
The lender you select will originate a loan for a practice approved by your local SWCD when the work is complete. The Iowa Finance Authority will deposit funds equal to the principal amount of the loan at 0% interest. The deposit does NOT guarantee the loan nor is it collateral for the loan. The deposit enables the lender to reduce the interest rate charged to the borrower.
