Customized lending for farmers, ranchers and agribusinesses
Competitive fixed and floating rates, amounts starting at $25,000 (no maximum) and convenient terms including monthly, quarterly and annual payments for customers with seasonal revenues. We can help you:
Purchase & refinance property
- Purchase or refinance land for the purpose of farming and ranching (may not be used for residental properties)
- Flexible terms up to 10 years with longer amortizations
- Secure your loan with the property you're financing
- Borrow 60-75% of the property value (loan-to-value ratio varies by property type)
Purchase or lease equipment & vehicles
- Flexible terms from 3-7 years
- Secure your loan with the new or used item you're financing
- Borrow 75-80% on purchases and 100% on leases
Finance your production expenses
- Lines of credit to finance production expenses related to farming and ranching
- Lines of credit for working capital available for agribusinesses
- Term loans for breeding livestock; we offer flexible terms up to 7 years
Supported by a specialized agriculture lending team, Bank of America is a Preferred Lender of the Farm Service Agency (FSA) Guarantee Program.
The ratio between the unpaid principal amount of a loan, or credit limit in the case of a line of credit, and the appraised value of the collateral. Expressed as a percentage. For example, if you have an $80,000 first mortgage on a home with an appraised value of $100,000, the LTV is 80% ($80,000 / $100,000 = 80%).
Amortization refers to the repayment of debt in periodic installments of principal and interest, as determined by an amortization schedule.
For example, with a fixed-rate loan the payment itself remains constant while the percentage of the payment that is applied to principal and interest varies with each installment.