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Agricultural Loans

The First National Bank specializes in agricultural finance. More than 50% of our loan customers are in agriculture or an agriculture-related business, and we offer competitive, flexible terms and rates on a variety of products:

Operating Line-of-Credit

Whether for cattle, crops, or both, First National Bank offers a line-of-credit to provide the working capital you need to support your operating cycle:

  • Commitments are generally for a one-year term
  • Funds are advanced based on the availability of current assets as collateral, such as livestock, feed and grain, and hedging accounts
  • Advance rate is generally 70% of current assets pledged; however, it could be higher depending on the nature of the assets
  • Interest rates are variable and are determined by your financial condition

Cattle Loans

First National Bank offers term notes to finance your breeding herd:

  • Commitments are generally for 3-5 years
  • The Bank will generally provide up to 70% of the market value of your herd
  • Interest rates may be fixed or variable and are determined by your financial condition

Machinery & Equipment Loans

Is it time to replace that old tractor or expand your facilities? Our agricultural lenders can provide the loan you need:

  • Commitments are generally 5-7 years, depending on the useful life of the collateral pledged
  • The Bank will generally fund 90% of the purchase of new equipment or 75% of the purchase or the refinancing of used equipment
  • Interest rates may be fixed or variable and are determined by your financial condition

Farmland Loans

  • Commitments are generally on a 10-year term or less with a balloon payment on the purchase or the refinancing of farmland
  • The Bank will generally advance the lesser of 65% of the appraised value cost on the purchase of irrigated farmland or 70% of dryland
  • When refinancing farmland, the Bank will typically finance 65% of the appraised value of irrigated land or 70% of dryland
  • Interest rates may be fixed or variable and are determined by your financial condition

Application Checklist

  • Existing Company:
    • 3 years of Historical Business Financial Statements
    • Most recent interim Business Financial Statement
    • Last 3 years Business Tax Returns
    • Personal Financial Statement
    • Depending on the purpose of the loan you are requesting you may be asked to provide the following:
      • Accounts Receivable and Account Payable Agings
      • Inventory List
  • New Company:
    • Business Plan
    • Monthly Projections
    • 3-Year Projections
    • Personal Financial Statement
    • Small Business Administration Application

Use our Loan Calculator or Loan Comparison Calculator to help determine the financing and payment options that are best for you, and then visit one of our branches to discuss all your available options with one of our commercial lenders.


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