Types of Agribusiness Loans
- Operating Lines of Credit
Utilizing an operating line of credit allows you to maximize the working capital and profitability of your operation. Primary uses of a line of credit include:
- Funding seasonal build up fluctuations in inventory
- Assisting in the timing differences of collecting your receivables
- Ability to take advantage of vendor discounts
- Meeting unexpected cash needs
- Machinery & Equipment loans Machinery & equipment loans provide funds for you to maintain and expand your feeding equipment, rolling stock and facilities. We offer fixed and variable rate loans with terms ranging up to seven years. Your down payment can consist of a cash payment and/or a trade-in allowance. We will also work out a convenient repayment plan to meet your cash flow objectives.
- Feeder Finance Lines of Credit A feeder finance line of credit provides an avenue for commercial feedlots to attract customers and act as a financing intermediary. You, the feedlot manager, execute a note, security agreement and financing statement with your customer. In turn, the bank takes assignment of the documents between you and your customer, and provides you with the funds necessary to complete the transaction. Interest rates are variable, and are determined by your financial condition.
- Livestock Loans When it's time to purchase livestock, First National has customized and affordable financing. Loan commitments are made for terms of one to five years determined by your needs and desires. Interest rates may be fixed or variable and are determined by your financial condition.
- Ag Real Estate Loans Whether it's a 5-acre plot of land for an indoor arena or a 50,000-acre spread to run 15,000 head of cattle, we can finance or refinance property, land improvements, buildings and facilities. You may select your payment schedule and term based on variable or fixed interest rate options.