Grow Your Farm with HomePride Bank's Agricultural Loans
At HomePride Bank, we understand that agriculture is the backbone of our community. That's why we offer a comprehensive range of agricultural loans designed to help local farmers, ranchers, and agribusinesses thrive. Our dedicated team of agricultural lending experts is committed to providing personalized solutions tailored to your unique needs.
Our Agricultural Loan Options
Farm Real Estate Loans
Whether you're looking to expand your acreage or purchase your first farm, our long-term real estate loans offer competitive rates and flexible terms to help you achieve your goals.
Equipment Financing
Invest in the latest machinery and technology with our equipment loans. We offer financing for both new and used equipment, helping you increase efficiency and productivity.
Operating Lines of Credit
Manage your cash flow effectively with our flexible operating lines of credit. These short-term financing options provide the working capital you need for day-to-day expenses like seed, fertilizer, and livestock feed.
Livestock Loans
From starting a new livestock operation to expanding your existing herd, our livestock financing options are designed to support your growth.
AG Term Loans
Finance long-term investments in your farm operations with our AG Term Loans. These loans can be used for a variety of purposes, including land improvements, buildings, and more.
Why Choose HomePride Bank for Your Ag Loans?
- Local Expertise: Our team understands the unique challenges and opportunities in our local agricultural community.
- Personalized Service: We take the time to understand your operation and customize lending solutions to fit your needs.
- Competitive Rates: Benefit from our attractive interest rates and flexible repayment terms.
- Quick Decisions: As a local bank, we can process your loan application efficiently, getting you the funds you need faster.
The HomePride Bank Difference
When you partner with HomePride Bank, you're not just getting a loan – you're gaining a trusted financial ally. Our agricultural lending specialists are here to support you through every stage of your farming journey, from planting to harvest and beyond.
Ready to Grow?
Visit your nearest HomePride Bank branch or give us a call at 855-447-2265 to get started with your construction project today.
Frequently Asked Questions
What types of agricultural loans are available?
Agricultural loans come in various forms to meet different farming needs. The main types include:
- Operating loans: Used for daily expenses like seeds, fertilizer, and livestock feed.
- Farm ownership loans: For purchasing farmland, constructing buildings, or making improvements.
- Equipment loans: Specifically for financing farm machinery and equipment.
- Facility loans: For building or improving structures like barns, storage buildings, and grain bins.
- Livestock loans: To finance the purchase, care, and feeding of livestock.
How do I qualify for an agricultural loan?
Qualifying for an agricultural loan typically involves:
- Having a good credit history and credit score.
- Demonstrating sufficient income or cash flow to repay the loan.
- Providing a business plan that outlines your farming goals and financial projections.
- Meeting specific eligibility criteria, which may vary depending on the lender and loan type.
For some loans, showing farming experience or education in agriculture.
What is the maximum loan amount for agricultural loans?
Loan amounts vary depending on the type of loan:
- USDA Farm Service Agency (FSA) direct farm ownership loans: Up to $600,000.
- FSA direct farm operating loans: Up to $400,000.
- FSA guaranteed farm loans: Up to $1,799,000 (adjusted annually for inflation).
- Private lenders may offer higher amounts, with some providing loans from $200,000 to $50,000,000.
How long does the agricultural loan application process take?
The timeline for agricultural loan applications can vary:
- The process may take 1-3 months from application to funding.
- FSA guaranteed loans through can take 20 days or less, subject to any required real estate appraisals.
Are there special loan programs for beginning farmers?
Yes, there are several loan programs designed for beginning farmers:
- The USDA Farm Service Agency offers specific programs for beginning farmers, including lower down payment requirements and favorable interest rates.
- Farm Credit institutions often have dedicated young, beginning, and small farmer programs with alternative financing options.
Don't let financing stand between you and your farming dreams. Visit HomePride Bank today and discover how our ag loans can make help you grow your agricultural dreams in to reality!
HomePride Bank is a Member FDIC. All deposit accounts are insured by the FDIC up to the maximum allowed by law.
HomePride Bank NMLS # 766470.
Equal Housing Lender. HomePride Bank is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, disability, or any other basis prohibited by law.
