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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.

Loan-to-value ratio

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

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.

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