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Ag Business Lending (USDA)

We have a number of options for our customers in the Ag Business. We know how strong of a positive influence agriculture is on our community, and we look to support it in any way we can. Contact us today to learn how a USDA loan could fit into your Ag business strategy.

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Account Features USDA FSA Farm Ownership USDA FSA FARM Operating USDA Beginning Farmer USDA Business and Industry
Loan Type Term Note Term Note Term Note Term Note
Best Used For Purchase farmland, construct or repair buildings and other fixtures, develop farmland to promote soil and water conservation, or to refinance debt Purchase livestock, equipment, feed, seed, fuel, farm chemicals, insurance, and other operating expenses. Can also be used for minor building improvements, costs associated with land development, and to refinance debt Purchase farmland Business or Entity must be located in a rural area by USDA definition. Can be used to purchase or develop land, buildings, or facilities, equipment, machinery, leasehold improvements, supplies, inventory or business conversion, modernization, or change of ownership
Maturity 40 years maximum 15 years maximum, but typically 7 years 30 years maximum on bank 1st mortgage lien, 20 years maximum on USDA Direct Loan 2nd mortgage lien 30 years maximum on real estate, 15 years maximum on equipment, 7 years maximum for working capital
Maximum Loan Amount $1,355,000 $1,355,000 Flexible to USDA Maximum $10,000,000
Interest Rate Options Variable or Fixed Variable or Fixed Variable or Fixed Variable or Fixed
Collateral Requirements May not exceed 100% of appraised value of land May not exceed 100% of appraised value of all available collateral 95% of appraised value, borrower is required to supply 5% down (can be borrowed from another source). USDA finances the lesser of 45% of $225,000 through a FSA Direct loan as a 2nd mortgage, and the bank finances the rest of the purchase through a 1st mortgage 80% of real estate, 100% of new equipment, 70% of accounts receivable, and 50% of inventory

For more information contact:

Jay Nowak portrait


Jay Nowak

Executive Vice President
NMLS 562290