Common Questions about Receiving an AgAmerica Farm Loan, Part I

Common Questions about Receiving an AgAmerica Farm Loan, Part I

As the only lender in the southeast authorized to offer AgAmerica farm loans, I get a lot of questions about what makes it distinctive from other types of loans. Here are answers to some of the most common questions.[emember_protected custom_msg=”Click here and register now to read the rest of the article!”]

Do your ag loans have prepayment penalties?
No, none of our ag loan products have standard prepayment penalties on early payoffs, as long as the payment is made at the regular payment time (quarterly, semi-annually, annually).

How much does Bankers South charge if my farm loan is not approved?
Nothing. There is no cost for the initial in-house underwriting of your agricultural loan application.

What loan types do you offer?
To best suit your agricultural project, Bankers South offers loan types ranging from seven-year terms to more traditional, 25-year fully-amortized loans to our outstanding operating line of credit.

What makes AgAmerica farm loans so special?
Interest rates for these loans often beat all other agriculture loan programs. Interest rates can be as low as 2.61 percent depending on the loan product. AgAmerica also does not require loan renewals, where you have to pay for new appraisals, gather financial documents all over again, etc. every few years. Once you’re approved, you are set up for long term. Not having to “rest” your Line of Credit is another great way AgAmerica stands out! Not having to pay down your Line once a year allows you to keep your capital where it needs to be— in your business.

This column is sponsored by Bankers South Lending & Finance.

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column by LEIGH ANN WYNN

BIO: Leigh Ann Wynn is the Sr. VP of business development for Bankers South. Adding mortgage loan originator to her title, Leigh Ann is actively working with the AgAmerica Lending Program by Bankers South, offering low interest ag loans. As an active member of the ag community and a seventh generation Floridian, Leigh Ann understands your ag needs and is here to answer your questions. She can be reached at leighann@bankerssouth.com”> or (863) 607-9500.[/emember_protected]