Loans available for 80% purchase of conservation tillage equipment and grass seeding and harvesting equipment. Available to conservation districts on low-cost rental basis. Maximum $30,000 and 5 year term.
For information on Financial and Loan Programs contact:
Conservation Revolving Loan
The Conservation District Special Revenue Fund (Revolving Loan Fund) was established by the South Dakota Legislature in 1949. Loans can be made to conservation districts for securing, by purchase or otherwise, necessary equipment, trees and other plant materials, and supplies needed to further their programs.
This loan fund is administered by the Conservation Commission with expenditures approved by the Commission. Only loans are authorized from these funds, no other type of financial assistance. Conservation districts may use their loan to make loans themselves for the purpose of the fund.
The application will show: The purpose of the loan and how it will be used. The length of time the funds are needed by the district to provide sufficient revenue for their repayment. A statement of the financial condition of the district. A signature of the district chairman or a majority of the district board. The action of the board as recorded in the official minutes of the board meeting will be certified by the district secretary. After approval of a loan by the Commission, a promissory note, a security agreement and a Uniform Commercial Code (UCC) financing statement will be prepared.
All requests for funds shall be submitted to the Division of Resource Conservation & Forestry, Foss Building, 523 East Capitol Ave., Pierre, SD 57501-3182. They will be on forms approved by the State Conservation Commission. The Division will make the loan investigation and present the loan application to the Conservation Commission for their approval or disapproval.
For application requirements, repayment criteria and reporting conditions, see South Dakota Administrative Rules 12:03:03.
For information on the revolving loan program contact:
Division of Resource Conservation & Forestry at 605.773.3623 or SDRCF@state.sd.us