Citizens State Bank of Loyal specializes in financing dairy farms throughout the state of Wisconsin. If you’re in the dairy business you know the importance of good, sound financial decisions…and to make those decisions, you need good, sound financial advice. Our team of Ag Loan Professionals has the ability to efficiently analyze your request and work with you to customize a financing package to meet your needs. Citizens State Bank of Loyal loan decisions are made locally by people who understand the importance of agriculture to Wisconsin’s economy and who understand the agricultural way of life. We are committed to the agricultural financing business for the long haul, through both good times and bad. Our loan officers are accessible to discuss your financial package at your convenience. We offer competitive interest rates and both short and long-term interest rate locks.
Agricultural Term Loans
Citizens State Bank of Loyal offers term loans. These include loans for Real Estate such as land, buildings and fixtures, and for Farm Personal Property such as livestock, machinery and equipment. Customers can choose from fixed or variable rates. For eligible customers looking for long-term fixed rates for agricultural real estate loans, we can access Farmer Mac, the Federal Agricultural Mortgage Corporation, a quasi-government agency created by the Agricultural Credit Act of 1987. Congress created Farmer Mac to improve the availability of mortgage credit to America’s farmers, ranchers and rural homeowners, businesses and communitites. Farmer Mac does this primarily by purchasing qualified loans from lenders. Our experienced staff of ag lenders can present a range of options regarding the best structure to help meet your lending needs.
Agricultural Lines of Credit
Many producers enjoy the ease of working with a Revolving Line of Credit loan. This is an excellent tool that can be used to manage farm operating costs as money can be borrowed, repaid, and borrowed again. Take advantage of pre-season, early-order, or cash discounts offered from suppliers by utilizing the Line of Credit. With money available in the line, all it takes is a phone call to transfer the money to the account of your choice for immediate use.
Farm Service Agency Guaranteed Loans
Citizens State Bank of Loyal is a Farm Service Agency (FSA) Preferred Lender. The Preferred Lender Program (PLP) is the top status that a lender can obtain in the FSA Guaranteed Loan Program. The FSA guarantee permits lenders to make agricultural credit available to farmers who do not meet the lender’s normal underwriting criteria. FSA guarantees loans for both Farm Ownership and Operating purposes. As is the case with FSA Direct Loans, a percentage fo Guaranteed Loan funds are targeted to beginning farmers and ranchers and minority applicants.
WHEDA CROP Loans
Eligible applicants may qualify for a WHEDA CROP loan. CROP stands for Credit Relief Outreach Program. There are a number of specified uses for this type of loan. Loan funds can be used for the purchase of fertilizer, seed, fuel, or for rent on land, machinery, equipment, or for customer hire, crop insurance, pesticides and/or herbicides. Your lender can help determine if this is a good option for you.
Include the following information to make a loan request:
Current Financial Statement
Past 3 years of Tax Returns
Milk production records from the past 3 years
Business Plan including projected income and expense for the next 12 months
Background on farm operation and plans for the future