American Bank is very experienced in lending for agriculture. Our lenders have a wealth of knowledge in this area and can help design a loan program to fit every individual situation. We offer all types of short, intermediate and long-term credit, and are well-versed on all government-based programs to assist with stressed operations and new financing. Loan decisions are made locally and servicing stays right here with your lender.
- Operating loans
- Operating lines of credit
- Livestock loans
- Equipment loans
- Farm real estate loans
- Guaranteed loan programs
Farm Service Agency (FSA) Guaranteed Operating and Farm Ownership Loans
Loans guaranteed by the US Government to assist with the purchase of livestock and equipment or the purchase of a farm. This program helps American Bank assist farmers who may not be able to qualify for or obtain credit conventionally.
Farmer Mac II Term Loans
American Bank is able to offer long-term fixed interest rate loans by using this program.
WHEDA Crop Loans
Loans guaranteed by WHEDA can be used for annual operating expenses such as crop inputs or animal feeds. These loans must be repaid in one year.
To assist you in preparing for an agricultural loan application, you should have the following information available when you visit with a lender:
- Two years of current tax returns
- Projection of income for the current operating year
- Current financial statement with a listing of machinery, cattle, etc.
- Detailed listing of all liabilities to banks and vendors, with payment requirements
Depending on the size and complexity of your loan request, more detailed and extensive information may be required