A milestone has been reached in a State of Iowa program providing low-cost loans to farmers and other landowners to install soil conservation and water quality protection practices on the land. The Iowa Finance Authority (IFA) and the Iowa Division of Soil Conservation & Water Quality at the Iowa Department of Agriculture & Land Stewardship (IDALS) administer the program. The two state agencies made the announcement in early March about the milestone being recently reached.
Landowners can use low-cost financing for water quality practices
The program has been available for a number of years and over that time $100 million in low-cost financing has assisted more than 1,600 Iowa landowners and farmers with projects to improve Iowa’s waterways through the State Revolving Fund (SRF). The SRF offers low-interest loans through participating lenders who assist farmers and others with water quality projects on farms. Iowa landowners have used the programs for a total of more than 4,000 projects including filter strips, grade and stream stabilization, grassed waterways, terraces, manure management and more.
“The milestone of $100 million in loans to Iowa landowners for soil conservation and water quality projects is no small effort,” says IFA director Dave Jamison. “I commend the landowners who’ve used this financing for their shared dedication to improving Iowa’s water quality.”
Low-interest loans are available to public and private borrowers
The SRF programs feature a 3% fixed interest rate, up to 15-year terms and loan limits of up to $500,000. Landowners have the ability to fund their entire projects and the convenience of working with the lender of their choice. “The SRF has funding available,” says Jim Gillespie, director of the Division of Soil Conservation and Water Quality at IDALS. “Anyone who is considering a water quality project should contact our office for more information.”
Visit IowaSRF.com or call 515-281-6148. “The SRF also assists communities with costs of upgrading or constructing local wastewater and drinking water projects,” says Gillespie. “Low-interest loans are available to public and private borrowers to address a wide variety of water quality issues.”