You are ready to grow and expand your operations. You need a farm loan that is specifically geared for your needs. To do it cost-effectively, it would be great to get a Farmer Mac (Federal Agricultural Mortgage Corporation) loan, or something like it.
As you plan to approach an approved lender, you’ll want to have specific information and paperwork ready to share. For example:
What’s prompting your request: expansion and details: impact on current operation, etc.
What are your current financial commitments: current debt detail; operational costs; equipment leases; insurance coverage; etc.
What do your current revenue/assets look like: income; physical assets; etc.
Your historical financial records: tax returns; credit rating/history; etc.
Specific information that Farmer Mac will want: citizenship status; fair market value of land being offered as security on the loan; etc.
At FFB, we’ve got decades of experience in agriculture, lending to farmers and ranchers – plus we are a Farmer Mac Approved Lender. To help you get ready for meeting with a lender to gain the financing you need for growing your operations, we’ve created a checklist for you to share with your accountant.
The farm loan checklist includes information needed for Farmer Mac and similar loans.
If you’d like us to answer questions or discuss further, please provide your number and we’ll be in touch shortly.
Note: Your information will not be sold or shared outside FFB.
If a USDA FSA loan isn’t a fit, there are other options available. Let’s chat!
