Short-Term
Financing
Short-term
loans are generally for periods of 12 to 18 months.
Operating
Loans
These loans finance the ongoing expenses of a farm or ranch.
Operating loans generally are written for a period that matches
the borrower's normal production cycle, usually a 12-month period.
Operating loans can be used to finance all of the expenses of
a farm, or they can be limited to specific expenses.
These loans
can be used for:
- Accounts
receivable, inventory purchases and other business-related
expenses
- Family
living expenses and income taxes for full-time farmers.
- Debt
payments on machinery, equipment and real estate.
Revolving
Line of Credit
A revolving line of credit allows you to draw and repay funds
during the term of your note. A revolving line of credit can
be used for a variety of ag-related purposes, such as:
- Operating
expenses
- Livestock
purchases
- Inventory
purchases
Intermediate-Term
Financing
Intermediate-term loans finance the depreciable capital assets
of a farm or ranch. An intermediate-term loan is written for a
specific term, usually for one to 10 years, and is fully amortized
over the life of the loan.
Standard
Loans
Intermediate-term loans are often used to improve working capital
or to purchase or refinance any of the following:
- Farm
machinery, vehicles or equipment
- Breeding
livestock
- Farm
buildings and improvements
- Real
estate
- Non-ag
investments
Equipment
Loans
New or used farm-related machinery, equipment and vehicles may
be financed with an intermediate-term loan.
Loans up
to $100,000 are available under our quick and convenient AgFAST
program, which involves a simple, one-page application form.
In most cases funds are available the same day. Additional information
may be needed for larger loans. Equipment and vehicles financed
under the AgFAST program generally must be less than 10 years
old.
Equipment
and vehicles may be financed under other terms with a standard
intermediate-term loan.
Consumer
Loans
Intermediate-term loans can be used to finance consumer purchases
and investments. For example, full-time farmers can finance
recreational vehicles, home improvements, educational expenses
and family vacations. These loans are written for specific terms
and are fully amortized over the term of the loans.
Long-Term
Financing
Real
Estate Financing - Real estate loans are used to finance
the needs of a farm or ranch for periods of 10 years or greater,
when secured by first lien real estate.
Agricultural
Loans - Full- and part-time farmers and ranchers can borrow
for just about any agricultural purpose, such as real estate,
buildings and improvements.
Non-Ag
Loans for Producers - Full-time farmers also can obtain
financing for non-agricultural needs such as investment properties
and vacation homes. Part-time farmers can borrow for limited
family credit needs.
Rural
Home Loans - Country home loans provide money to build,
purchase, improve, remodel or refinance a new or existing home.
Our country home loans are available to people who live in rural
areas or towns with populations under 2,500. Borrowers can choose
from fixed and adjustable rates and amortization up to 30 years.
