LOUDONVILLE — Area FFA students planning for their SAE (Supervised Agricultural Experience) projects are encouraged to apply for funding through the SAE Start-Up Loan program to help with the costs associated with these projects. SAE’s are a time-honored part of agricultural education curriculum and help students develop agribusiness skills and leadership abilities.
Active FFA students enrolled in Loudonville, Hillsdale, Clear Fork, Lucas, Danville, West Holmes and Triway, High Schools are eligible for financial assistance.
Kenny Libben, director of the program and Vice President of Loudonville FFA Alumni & Supporters, said the organization hopes to receive multiple applicants from each chapter.
All ownership-based SAE’s that are approved by the student’s FFA advisor can qualify for a start-up loan, which Libben said can be used to cover a variety of costs unique to each SAE — giving examples such as the purchase of a market hog, feed, and show equipment for those raising livestock, purchase of lawn mowers, other equipment, and even gasoline for those doing landscaping, seeds and potting soil for those with plant-based projects, and more.
Funding can be used for all direct costs associated with the project, including marketing, but cannot be used to pay salaries or outstanding debts.
The SAE Start-Up Loan program was developed in 2020 by the Loudonville FFA Alumni & Supporters in partnership with Park National Bank who administers the accounts and assists students with handling loan payments. The program enables students to develop otherwise cost-prohibitive SAE projects while gaining an understanding of financial terms and business skills — including a vital understanding of how loans work prior to considering student debt after graduation.
Students are eligible for loans up to $500, with a simple 5% interest applied to the loan (for a maximum interest of $25 over the life of the loan). Libben noted that the interest is kept low so that students can still understand how it works, but that the organization does not profit off the loans — what little interest is collected is immediately reinvested into the funding pool for future loans.
Applications for fall funding are due on Oct. 1, or students working on summer projects can also apply by April 1 – summer funding is also available to incoming freshmen if they participated in FFA as 8th graders. For more information on the program, or to download an application, interested students or parents should visit loudonvilleffa.com/loans.
The application consists of a one-page form followed by a short explanation of the student’s project and how funds will be used. Libben advised that anyone with questions, including what qualifies for funding, are encouraged to email the organization at alumni@loudonvilleffa.com.
