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The Rural Finance Authority (RFA) Board consists of six public members, who must reside outside the metropolitan area and are appointed by the Governor, and five members from the following state agencies:

  • Department of Agriculture (Chair)
  • Minnesota Management and Budget (Vice-chair)
  • State Auditor
  • Department of Commerce
  • Department of Employee and Economic Development

Powers and duties of the RFA Board include guiding the RFA’s purpose to develop the state’s agricultural resources by extending credit on farm real estate security and depreciable agricultural property (improvements, machinery, animals). The RFA carries out this purpose by purchasing participation interests in loans or selling Agricultural Development Revenue Bonds to agricultural lenders or individuals for the purchase of agricultural items. Another loan participation program provides for restructuring farmer agricultural debt. An additional program was added in 1994 providing assistance to lower equity farmers to purchase stock in a value-added processing cooperative.

Rural Finance Authority Board Members

2025 Board Meeting Dates

  • February 12
  • March 12
  • April 9
  • May 14
  • June 11
  • July 9
  • August 13
  • September 10
  • October 8
  • November 12
  • December 10
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