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TYPES
OF Loans
*Additional disclosures provided on all GWB
Loans. All loans are subject to credit approval.
REAL ESTATE LOANS
- Farmland, buildings and facilities
- 1-3 year balloon note
- Amortization period from 10-25 years
- Secured with personal property
- Maximum loan amount 75% of collateral value
- Milk assignments can be used for convenience
- Flexible repayment terms
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PERSONAL PROPERTY
LOANS
- New or used equipment financing
- Purchase of livestock
- Amortization period up to 7 years
- 1 year balloon note
- Secured with personal property, cattle or
machinery
- Maximum loan amount 75% of collateral value
- Milk assignments can be used for convenience
- Flexible repayment terms
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OPERATING LOANS
- Secured with cattle and machinery
- 1 year balloon note
- Amortization period up to 7 years
- Maximum loan amount 75% of collateral value
- Milk assignments can be used for convenience
- Flexible repayment terms
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REVOLVING LINES OF
CREDIT
- Used for farm operating expenses
- Secured by real estate or personal property
(cattle or machinery)
- Maximum loan amount 75% of collateral
- Flexible amortization period and repayment
terms
- Fixed or variable rates available
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FARM SERVICE AGENCY GUARANTEED
LOANS (FSA)
- Types of Loans Available:
Line of credit loans for operating purposes
Personal property loans on cattle and machinery
Real estate loans on land and buildings
- Loans are funded and serviced by the bank
- Farm Service Agency can guarantee up to 90% of
the outstanding loan balance
- Loans can be made up to 100% of appraised
value of collateral with a positive cash flow
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SPECIALTY LOANS
WHEDA
Crop Relief Outreach Program (CROP)
- Up to 90% guarantee on loans up to $30,000.00
- For services or consumable goods necessary to
produce an agricultural commodity, such as fertilizer, seed, fuel, animal
feed, land rent or WHEDA fees
- To be eligible the borrower must be currently
operating a farm premise; Borrower's debt to asset ratio must be 40% or
greater; and farm must be located in Wisconsin
Farm Asset Reinvestment Management (FARM)
- Lesser of: 25% of the FARM loan; or borrower's
net worth including the FARM loan; or maximum $200,000 guarantee or loan
principal more than $800,000 ($100,000 if using other government financed
programs)
- For the acquisition of agricultural assets
such as machinery, equipment, facilities, land, livestock; improvements to
facilities or land for agricultural purposes or WHEDA fees
- To be eligible the borrower must be currently
operating a farm premise; Borrower's debts, including the FARM loan, may not
exceed 85% of the borrower's assets including the value of the assets to be
acquired, or the improvements to be made, with the proceeds of the loan
Beginning Farmer Bond Program (BFB)
- Reduced interest rate for first-time farmers,
using federally tax exempt bond financing
- For agricultural land, agricultural
improvements, new or used equipment or livestock
- To be eligible you must be a new farmer, not
currently an owner of farm land; farmer's net worth (including spouse and
children) may not exceed $250,000; and farm size cannot exceed 30% of county
median
- For additional WHEDA information, click
here.
Documentation Needed to
Process A Loan Application:
- Current Financial Statement
- Last 3 years complete Income
Tax Returns
- Background information on
owners and farm operation
- Business plan
- Cash flow statement
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Payment
Protection
Optional Credit Life & Disability Insurance insures that your loan will be
repaid in the event of your death or disability.
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You can request your credit report or dispute
findings on your credit report ONLINE! Click
here to connect to TransUnion and request your report TODAY!
NOT A DEPOSIT · NOT FDIC INSURED · NOT
GUARANTEED BY THE BANK · NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY · MAY GO
DOWN IN VALUE
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