FOR IMMEDIATE RELEASE: Tuesday, February 8, 2011

CONTACT:
Margaret Hart, Communications Coordinator
651.201.6131, Margaret.hart@state.mn.us

Two candidates sought for Rural Finance Authority Board

            ST. PAUL, Minn. – The Minnesota Department of Agriculture (MDA) is seeking candidates to fill two public vacancies on the Rural Finance Authority (RFA) Board.  The purpose of the Rural Finance Authority is to  develop the state's agricultural resources by extending credit to qualifying farmers.

RFA administers several loan programs including basic farm loans for purchasing real estate and making agricultural improvements as well as loans to help farmers refinance agricultural-related debt.  Loans are also available to qualifying producers for livestock expansion, equipment purchases and building construction.

MDA Commissioner Dave Frederickson says serving on the RFA board is an important opportunity to help Minnesota’s farmers achieve success.

“The RFA is a great example of a public-private partnership – working with local lenders to provide affordable credit to eligible farmers and ranchers,” said Frederickson. “It’s a key program that helps beginning farmers get their businesses started.”

The 11-member board includes six public members and the commissioners of agriculture, commerce, finance, trade and economic development.  No public member may reside within the metropolitan area. The board meets the first Wednesday of each month via teleconference and twice a year at the Minnesota Department of Agriculture, Freeman Building, 625 North Robert Street, St. Paul, Minnesota.

Interested candidates can find more information and application forms online at the Minnesota Secretary of State’s Office website at www.sos.state.mn.us  (click on the Open Appointments option).  Applications submitted by March 1, 2011 are assured of full consideration.

More information about the RFA is online at www.mda.state.mn.us/agfinance.

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