Common Questions about Receiving an AgAmerica Farm Loan, Part II

Common Questions about Receiving an AgAmerica Farm Loan, Part II

As I continue to answer common questions about our AgAmerica farm loans, this month I will go into further details about the process, qualifications, and what they cover.[emember_protected custom_msg=”Click here and register now to read the rest of the article!”]

How long does the loan process take?
No loan, borrower, or collateral is the same, but if you are up against a deadline, let us know upfront and we can help you speed up the process! Depending on how complicated the loan, funding usually takes around 60 days. This includes if an appraisal is needed and if there are multiple borrowers and entities. If all of financial information is ready to go and an appraisal has already been performed, we have closed loans in 30 days.

How do loan payments work?
We offer flexible payment methods, including annual, semi-annual, and monthly payment options.

What does my credit score need to be?
For our AgAmerica Lending program, we need a minimum credit score of 680. We have some credit repair options if a credit score happens to be a bit below this. Or you can possibly add a co-borrower to help with that.

What do these loans cover?
AgAmerica loans cover all facets of farming, from smaller blueberry farms to vast cattle ranches. When it’s time to plant your next row crop, expand your citrus groves, plant timber or start buying more cattle, these loans are a great choice. Also, if you wish to refinance your ag loan or are tired of having to renew your loan once a year, these loans are a solid option.

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]