Agricultural Loans

Agricultural loans are offered to farmers to fund seasonal agricultural activities like animal farming, pisciculture or purchase of land or agricultural tools.

Real Estate Loans

Features:

• Amortization period up to 15 years
• 1-3 year balloon note
• Farm land, buildings and facilities
• Maximum loan amount 75% of collateral value
• Milk assignments can be used for convenience
• Generally payments structured on a monthly basis

Documentation Needed:

• Last 3 years complete Income Tax Returns – Business and Personal
• Current Financial Statement with 3 years history – Business and Personal
• Background information on owners and farm operation
• Business plan
• Cash flow statement

Operating Loans

Features:

• Amortization period of 1 year
• Used for farm operating expenses
• Can be set up on a line of credit
• Milk assignments can be used for convenience
• Generally payments structured on a monthly basis

Documentation Needed:

• Last 3 years complete Income Tax Returns – Business and Personal
• Current Financial Statement with 3 years history – Business and Personal
• Background information on owners and farm operation
• Business plan
• Cash flow statement

Personal Property Loans

Features:

• Amortization period up to 7 years
• 1-year balloon note
• Secured with machinery, equipment, inventory and receivables
• Maximum loan amount 75% of collateral value
• Milk assignments can be used for convenience
• Generally payments structured on a monthly basis

Documentation Needed:

• Last 3 years complete Income Tax Returns – Business and Personal
• Current Financial Statement with 3 years history – Business and Personal
• Background information on owners and farm operation
• Business plan
• Cash flow statement

Farm Service Agency Guaranteed Loans – FSA

Features:

• Line of credit loans for operating purposes
• Personal property loans on cattle and machinery
• Real estate loans on land and buildings
• Loans are funded by the bank with loan documentation completed by the bank
• Farm Service Agency can guarantee up to 90% of the outstanding loan balance
• Loans can be made up to 100% of the appraised value of collateral with a positive cash flow

Documentation Needed:

• Last 3 years complete Income Tax Returns – Business and Personal
• Current Financial Statement with 3 years history – Business and Personal
• Background information on owners and farm operation
• Business plan
• Cash flow statement

WHEDA Crop Loans

Features:

• Maximum amount available $30,000.00
• Funds used to plant crops or purchase feed
• Loans usually funded in spring with the final payment due in March of the following year

Documentation Needed:

• Last 3 years complete Income Tax Returns – Business and Personal
• Current Financial Statement with 3 years history – Business and Personal
• Background information on owners and farm operation
• Business plan
• Cash flow statement