Business briefs: Casey's launches child hunger campaign, farm loan interest rates drop
Child hunger 'round up' campaign going on at Casey's
As part of Hunger Action Month this September, Casey’s General Stores are conducting a #HereForGood child hunger campaign, Sept. 8-20. During this campaign, Casey’s customers will have the opportunity to round up their purchase to the nearest full dollar amount of their choosing, with Casey’s committing a minimum of $100,000 and with a goal of 10 million meals for food banks serving the 16 states in Casey’s corporate footprint. In addition, Casey’s will donate $1 of every purchase of every Coca-Cola four-pack, priced at $5, to benefit Feeding America during the promotion period, up to $50,000.
North Country Food Bank, which serves northwest and west central Minnesota, will benefit from the funds raised at the 15 Casey’s locations within its service area. Ninety percent of funds raised will go to Feeding America network food banks based on store location, and 10% will support activities of the Feeding America national office. The global pandemic has made the need for food assistance greater than ever. Casey’s General Store is joining the fight to reduce the impact on our network of food banks by donating during #HungerActionMonth.
Lower interest rates available to farmers
Many loans available from the Minnesota Department of Agriculture and Rural Finance Authority (RFA) are now available at lower interest rates.
Minnesota Management and Budget secured favorable rates for government bonds it recently sold, allowing the RFA to cut 1.75% off its already-favorable rates for five different loan categories:
- Livestock Expansion Loan – rate reduced from 4.25% to 2.5%
- Restructure II Loan – rate reduced from 4.25% to 2.5%
- Agricultural Improvement Loan – rate reduced from 4% to 2.25%
- Beginning Farmer Loan – rate reduced from 3.75% to 2%
- Seller Assisted Loan – rate reduced from 3.75% to 2%
“These lower rates mean cheaper money is available to Minnesota farmers to help them cash flow loans at a time when money is tight and every little bit counts,” Agriculture Commissioner Thom Petersen said. “We hope this can make a difference to their bottom line and position them for success down the road.
The RFA offers low-interest loan programs to farmers for a wide variety of activities, partnering with local lenders to provide affordable credit to eligible farmers. To date, over $270 million has been invested in 2,959 participants in these programs. This spring, the Legislature allocated an additional $50 million to the RFA to replenish its funding so that beginning farmers and those expanding, restructuring, or transferring their operations can continue to take advantage of these rates.
Find out more about the different loan programs available through the RFA by visiting their web page .