FARM EQUITY LINE-OF-CREDIT
Our real estate backed line-of-credit has a 10-year draw period and 30-year term, so that you can concentrate on growing your business instead of going to your bank every year to re-apply for operating funds. With rates starting around 4.88% and interest-only payments during the draw period; our line-of-credit is the industry leader.
You may pay your line down any time. Interest is charged only on the outstanding balance. You may withdraw funds 2 times per month. It is easy since funds are wired directly to your bank account within 24 hours of request.
No annual credit review or financial statements
Secured only by real estate, not crops, livestock, or equipment
Converts to 20-year mortgage after draw period
No requirement to pay off balance annually
680 minimum credit score
$500,000 minimum loan when stand alone, must be first mortgage
Up to 50% loan to Value
Maximum debt to asset ratio of 50%