Dairy Cattle in Mississippi
Mississippi Milk Producers
Transportation
Cost
Assistance Loan Fund
Information Update: September 4, 2009
During the 2007 Mississippi Legislature Regular Session, Senate Bill No. 3199 was passed authorizing the Mississippi Milk Producers Transportation Cost Assistance Loan Fund Program. This program provides an interest free loan to Mississippi dairy farmers to help defray some of the increasing costs of shipping milk from the farm to processing plants.
This zero interest loan program, administered by the Mississippi Development Authority (MDA), will provide a maximum of $20,000 to eligible Mississippi dairy producers. Loan funds will be advanced to dairy farmers in increments of not less than $5,000 until the $20,000 limit is attained or eligibility ceases.
Mississippi dairy producers may submit applications for these loan funds starting July 1, 2007 and ending on May 15, 2009. PLEASE NOTE: House Bill No. 5 was passed during the 2009 Mississippi Legislature Regular Session to extend the date of the repealler of the section of the law creating the Mississippi Milk Producers Transportation Cost Assistance Loan Fund to December 31, 2012. Hence, the MDA will accept applications from eligible dairy producers through December 31, 2012.
The 96-month loan repayment schedule began July 1, 2009 and will be completed June 30, 2017.
Most eligible Mississippi dairy producers exercised their opportunity to secure these loan funds between July 01, 2007 and the May 15, 2009 application deadline as established by 2007 Senate Bill No. 3199. However, the Mississippi Development Authority is now authorized to resume taking loan applications from a small number of dairy producers who have not applied for any of these authorized loan funds or from producers who have not reached the maximum loan amount of $20,000.00. Loan applications will be taken through December 31, 2012 as amended by 2009 House Bill No. 5.
Details concerning the Mississippi Milk Producers Transportation Cost Assistance Loan Fund Program (including the Loan Application Form) are provided in the documents below (pdf format):
For more information, contact Lamar Adams, MSU Extension Dairy Specialist via telephone: 662-325-2852 or e-mail: lamara@ext.msstate.edu.
