Governor Larry Rhoden and the Governor’s Office of Economic Development (GOED) have announced reduced interest rates for the state’s Rural Development loan programs, effective October 21, 2025. The base rate is now 3.5%, with a reduced 2.5% rate available for qualified beginning farmers and ranchers.
GOED made the change after reviewing federal rate cuts and statewide lending conditions.
The Rural Development program offers financing for land, equipment, and livestock. While typically underused, GOED hopes the new rates will encourage more participation by working with local lenders and offering flexible capital options.
To learn more or check eligibility, visit sdgoed.com or contact GOED’s financing team.
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