Category: Ag Lending

farm

Farm Loans 101

“Let us not forget that the cultivation of the earth is the most important labor of man. When tillage begins, other arts will follow. The farmers, therefore, are the founders of civilization” (Daniel Webster). We love our farmers and believe they are the backbone of this nation. If you are new to farming or if it has been in your family for years, it’s important that you know about farm loans. Here are the basics you should be familiar with. 

FSA

When talking about farm loans, we should first discuss what the FSA does for farmers. FSA stands for Farm Service Agency. They are a branch or agency of the US Department of Agriculture. You may be able to obtain a loan through the FSA if you meet certain requirements. If you need to start your farm, expand or sustain it, you are likely going to need a farm loan. Choosing a lender like Peoples Bank & Trust to help you through the process will be the first step.

Who Qualifies for FSA loans?

  • Farmers needing to buy equipment or livestock
  • Farmers desiring to expand their business/land
  • Farmers who have experienced a natural disaster

These loans are meant for those who are not able to get credit from a commercial lender. They are usually used by farmers within their first ten years of business. When you are eligible to receive credit from a commercial lender, you will no longer qualify for a loan through FSA. 

Types of Farm Loans

Farmers have very specific needs. There are different types of loans that many farmers seek out to help their farming businesses thrive. 

Operating Loans: These can be essential to the success of a farm. They help purchase things needed for daily operations like fertilizer, livestock, irrigation, seed and fuel. 

Equipment Loans: No matter how big or small the farm, you’re going to need equipment to ensure its success. Equipment loans can be used to help buy things like tractors, grain bins and farm trucks.  

Real Estate: This loan is for expanding your land holdings. 

There are a variety of options available to farmers in terms of loans. Let us help you figure out a loan tailored to meet your business needs and goals. 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Gearing Up for Planning and Planting this Spring!

agriculture

With spring right around the corner, there are so many things to check off the list before your operation gets going! At Peoples Bank & Trust we offer a variety of agriculture lending options to suit your specific needs! With our custom financing options we work alongside agriculture’s best to help secure them a successful planting season through well-planned finances. Since every operation has different needs and functions, we offer a wide variety of lending options to solve problems at every level.

Farmer Mac Loans- These loans be used for a variety of farm-related expenses, an all-encompassing option for a majority of operations, these are generally considered for day-to-day expenses.

Operating Lines of Credit- Make purchases with ease! Instead of running to the bank for every purchase, this loan enables you to have money transferred directly into your account for each specific check you write.

Equipment Loans- In need of new equipment? This is the perfect solution. Whether looking for new or used, an equipment loan offers the custom financing you need.

Livestock Loans- Propel growth this year with our Livestock Loans! Whether purchasing calves, breeders, or simply growing a herd, this loan option has you covered.

Capital Improvement Loans- Add value to your operation this season with our helpful Capital Improvement Loans. This fulfilling loan helps add to buildings and other current structures, increasing capabilities while adding value to your operation.

FSA Guaranteed Loans- Another great option for your day-to-day expenses, a FSA Guaranteed loan offers assurance and flexibility to our agricultural customers.

We applaud all of our agricultural customers for all that they do and the people they help by doing it! We at Peoples Bank & Trust want to send a sincere thank you to our farmers and operators who work day in and day out, to feed our nation. We appreciate all that you do!

If you’d like to learn more about our agriculture lending or other banking options please visit our website, or call us at (636)528-7001, we’d love to help!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS #407724

 

Harvest Season & Ag Loans: Getting a Jump on Next Year

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The harvest season is a time that celebrates the crops that have survived the harsh summer weather and the hardworking farmers who yield these crops. Here in Missouri, we are proud of our Ag industry as we find ourselves on a variety of top U.S. crop production lists, including corn, soybeans and wheat.

As this year’s crop is harvested and the final numbers start to trickle in, Peoples Bank & Trust is here to help you begin planning for next year’s crops and harvest. Here are a few things to consider when planning for next year’s crop and harvest season:

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