The Bank of North Dakota has two new loan programs available to help livestock producers recover from the extreme drought. “These programs are similar to others we’ve rolled out in other droughts, but we made changes,” said Todd Steinwand, president, Bank of North Dakota. “In 2017, drought was more localized. This year, it seems like the entire state is in the drought and there’s a lack of feed across the state.” The Livestock Drought Loan Program provides more immediate assistance for farmers and ranchers. This loan program will cover ag-related costs related to feed purchases, transportation costs and getting water to cattle during the drought. The Livestock Rebuilder Loan Program will provide financing to help livestock producers rebuild their herd after the drought is over. Livestock producers are encouraged to work with their local lenders to apply for the programs.
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