CSB Ag Loans

Citizens State Bank of Loyal offers three types of Agricultural Loans. These include Real Estate Loans, Personal Property Loans, and Revolving Lines of Credit. Real estate and personal property loans can have either a variable interest rate or a fixed rate. Variable interest rates are determined based on a formula calculation of financial statement strength, cash flow, and loan to collateral ratio. Real estate and personal property loans in excess of $50,000.00 can qualify for either a three-year or a five-year fixed rate. Revolving lines of credit always have a variable rate.

Real Estate Loans
Ag real estate loans are used to purchase or refinance land, buildings, and/or facilities. These loans generally have a 10 to 20 year amortization. Payments can be made monthly, quarterly, semi-annually, or annually. Our rates are very competitive and we custom design the terms to fit your individual needs.

Personal Property Loans
Personal property loans are for the purchase or refinancing of livestock and/or machinery. Amortizations vary between 3 and 7 years. Payments can be made monthly, quarterly, semi-annually, or annually.

Revolving Lines of Credit
Revolving lines of credit are an excellent tool used to manage operating costs. Take advantage of discounts offered by your suppliers by utilizing the revolving line of credit. Depending upon the interest rate, monthly payments due on a revolving line of credit are either 1¾% or 2% of outstanding balance. Transfers from your revolving line of credit to your checking account can be made by telephone.

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 next 12 months

• Background on farm operation and plans for the future