DES MOINES – The Iowa Finance Authority (IFA) recently announced that Lincoln Savings Bank in Reinbeck has been named the Top Beginning Farmer Lending Institution of 2023 and Assistant Vice President, Nathan Ragsdale, has been named Beginning Farmer Loan Officer of the Year. The awards recognize the lending institution and loan officer who assisted the most individuals through the Beginning Farmer Loan Program in 2023.
“Investing in the next generation of Iowa farmers ensures both a robust and thriving economy as well as a sustainable agricultural legacy for our state,” said IFA Director Debi Durham. “Last year alone, we assisted 68 farmers with the purchase of more than 5,000 acres to begin or grow their operations, an accomplishment that would not be possible without outstanding partners like the team at Lincoln Savings Bank.”
“The Iowa Finance Authority’s beginning farmer programs are vital to supporting our aspiring farmers,”
said Nathan Ragsdale of Lincoln Savings Bank. “We’re honored to receive this recognition and are committed to expanding our support to even more beginning farmers in the coming year.”
The Beginning Farmer Loan Program assists new farmers in acquiring farmland, buildings, machinery, equipment and breeding livestock at reduced interest rates. Beginning Farmer Loans are financed by participating lenders or contract sellers with federal tax-exempt bonds issued by the Iowa Finance Authority. The interest received on contract sales or direct loans by individuals is also exempt from state income taxes.
The program has assisted more than 5,000 beginning farmers purchase a total of more than 427,000 acres since its inception in 1981. More information about IFA’s beginning farmer programs is available here.
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