AgAre you a farmer in need of a loan? If so, you’re in luck! There are a variety of loans available for farmers, and we’ve compiled a list of the best ones. Read on to learn more about the best farm and agriculture loans of 2022.
Farm Credit Mid-America is a financial cooperative that has been serving farmers since 1908. It offers a variety of loans for farmers, including real estate loans, equipment financing, and crop insurance. It also has a variety of programs to help farmers with their changing needs.
The biggest advantage of Farm Credit Mid-America is its breadth of services. It is one of the few lenders that offer equipment financing, cash management, crop insurance, and food and fiber debt syndications. It also has a Patronage program that returns a portion of the profits to eligible customers each year.
The biggest disadvantage of Farm Credit Mid-America is that it is only available to farmers in Indiana, Ohio, Kentucky, and Tennessee. Another downside is that it requires a 5% down payment for most loans.
Overall, Farm Credit Mid-America is a good option for farmers who need financing for their operations. It offers a wide range of services and programs to help farmers succeed.
- Breadth of services
- Patronage program returns a portion of profits to eligible customers each year
- Only available to farmers in Indiana, Ohio, Kentucky, and Tennessee
American Farm Mortgage is a subsidiary of Legence Bank, a financial institution founded in 1906. It has a customer-focused work practice intended to help business owners, which is why it founded American Farm Mortgage & Financial Services, an agricultural farm real estate lender on a mission to help farmers found and grow their businesses.
The company offers competitive loan options, multiple repayment periods, and a loan-to-value ratio of up to 95% with the FSA program. However, borrowers must have operated the business for at least three of the past 10 years to qualify, and the first mortgage loan term fixes the rate for the first 15 years of a 30-year term. Additionally, there are no commodity specialty loan products.
Despite these drawbacks, American Farm Mortgage is still a good choice for borrowers with good credit. The company offers competitive interest rates and flexible payment structures, and closing costs are relatively low. Overall, American Farm Mortgage is a good choice for farmers looking to finance their business.
- Competitive loan options
- Multiple repayment periods
- Loan-to-value ratio of up to 95% with the FSA program
- Must have operated the business for at least three of the past 10 years to qualify
- The first mortgage loan term fixes the rate for the first 15 years of a 30-year term
- No commodity specialty loan products
Camino Financial is a great option for small farm loans. The company offers loans to businesses that have been in operation for at least nine months and earn at least $30,000 in annual gross sales. You must own at least 50% of the farm. The company also offers loans to people who don’t have a credit history.
The great thing about Camino Financial is that they offer fixed annual interest rates between 12-24.75%. They also offer loans ranging in size from $10,000 to $400,000. Another great thing about this company is that they have a 5% origination fee and no early payment penalty.
The only downside to Camino Financial is that they are not available in New Jersey, Hawaii, or Puerto Rico. However, they are still a great option for those who are looking for a small farm loan.
- Offers loans to people who don’t have a credit history
- Offers fixed annual interest rates between 12-24.75%
- Offers loans ranging in size from $10,000 to $400,000
- Has a 5% origination fee
- No early payment penalty
- Not available in New Jersey, Hawaii, or Puerto Rico
Farm Plus Financial is a lender that specializes in agricultural financing. They offer a wide variety of loan options, competitive rates, and years of industry experience.
One of the things that makes Farm Plus Financial a great choice for agricultural financing is their wide variety of loan options. They offer long-term-fixed and short-term-adjustable rates, as well as operating lines of credit. This gives borrowers a lot of flexibility in terms of choosing a loan that best suits their needs.
Another strength of Farm Plus Financial is their competitive rates. They have a large network of banks, secondary markets, and private investors that they work with to get the best rates for their borrowers. They also offer some of the best rates in the industry for agricultural financing.
Finally, Farm Plus Financial has years of experience in the agricultural financing industry. This experience gives them the knowledge and expertise to help their borrowers find the best loan options and get the best rates.
If you are looking for a lender that specializes in agricultural financing, offers a wide variety of loan options, and has competitive rates, then Farm Plus Financial is a great choice.
- Offers a wide variety of loan options.
- Competitive rates.
- Years of experience in the agricultural financing industry.
- Borrowers must have sufficient income to service all debts.
- Borrowers have to provide at least 30% down payment.
- 680 credit score minimum.
Farm Credit Services of America (FCSA) is a leading provider of financing for farmers and ranchers in the United States. The company offers a variety of loans and leases for farm operations, including cash liquidity loans, restoration loans, and purchase loans for livestock. FCSA also provides rural home loans and specialized financing for large-scale food companies.
FCSA is a strong lender with a sound portfolio of loans. The company has grown steadily in recent years, and its loan volume has reached $35.7 billion in 2021. FCSA’s diversified portfolio of loans across different commodities has been a key factor in the company’s success. The company has a strong focus on customer service and providing financing options that meet the needs of farmers and ranchers.
FCSA is a great option for farmers and ranchers who are in need of financing for their operations. The company offers competitive rates and terms, and its diversified portfolio of loans provides borrowers with a wide range of options. FCSA’s strong focus on customer service makes it a great choice for those in need of financing for their farm operations.
- Can be used for virtually anything having to do with farm operations
- Offers a variety of loans, including cash liquidity loans and purchase loans for livestock
- Provides rural home loans and specialized financing for large-scale food companies
- Has a strong focus on customer service
- Diversified portfolio of loans provides borrowers with a wide range of options
- Competitive rates and terms
- Must be a farmer or rancher to qualify for loans
- Credit score and financial history are considered when applying for a loan
AgAmerica Lending is a national land lender that offers a variety of loans for farmers across the United States. The company was founded in 2010 and is headquartered in Lakeland, Florida. AgAmerica has a team of experienced agricultural loan officers who are familiar with the unique needs of farmers. The company offers a 10-year line of credit, which is a revolving line of credit that can be used for any business purpose. There is no mandatory annual renewal paperwork or pay-downs required with this line of credit. AgAmerica also offers operational loans tailored to 15 different agricultural commodity farms, such as cattle, row crops, and dairy. The company has an excellent reputation and an impressive collection of testimonials from satisfied clients. Most loans close in under 45 days.
- Option to convert to a term loan
- Use funds for any business purpose
- No mandatory annual renewal paperwork
- No mandatory pay-downs
- Available nationwide
- Experienced agricultural loan officers
- Flexible loan terms
- Competitive interest rates
- You must own or plan to buy at least 25 acres to qualify for their loans.
- No weekend hours to talk to a representative -Minimum credit score of 680 required
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