When it comes to financing your farm needs, we're here to help you in all aspects of your operation. We have several seasoned Ag loan officers who will be happy to assist you with the following loan alternatives:
Lines of Credit
You can set up a Master Note with us and have access to funds, as you need them. You can then pay down your line of credit as you sell crops or livestock. Our Direct Cash Management product will enable you to manage your funds from the line of credit to your checking accounts and back. We have added convenience with an automatic transfers to cover overdrafts in your business checking account or save money by paying down your line with the excess balance in your checking account.
Term Loans
We can set up a loan to help pay for expenses or purchase equipment at a payment that is right for you.
Farm Mortgages
If you are interested in purchasing an existing farm or want to refinance a current one, let us help you with a farm mortgage loan.
Leases
We offer leases for your farm equipment and buildings.
Country Mac
Ask one of our Ag loan officers about qualifying for this special loan product specially developed to help you purchase tillable Illinois Farm Land.
To submit an application you must meet the following criteria:
Total debt to assets of 50% or less
Willing to pledge tillable farmland on a 1st mortgage
Loan proceeds not to exceed 75% of appraised value
Loan is for the purchase of farmland only
Must provide your past 3 years federal income tax returns
Must provide a current financial statement
Satisfy the National Bank Underwriting Requirements
Country Mac adjustable rate loans have up to a 35 year amortization, payable semi-annually each April and October by automatic debit from your National Bank deposit account. Rates good as of Sept 1, 2008.
Initial Semi-Annual Payments
Initial Rate
Loan Type
Index
Repricing Margin
Caps
$88.33
4.75%
1/1
National Prime
-.25
Annual 2%, Lifetime 6%
$94.09
5.25%
3/1
National Prime
-.25
Annual 2%, Lifetime 6%
$100.00
5.75%
5/1
National Prime
-.25
Annual 2%, Lifetime 6%
$106.05
6.25%
10/1
National Prime
-.25
Annual 2%, Lifetime 6%
* Semi-annual payment based upon per acre loan amount of $3,000 with 35 yuear amortization. Minimum loan amount $100,000
For more details or current rates, please contact a local commercial lender or call 1-800-717-3991 during banking hours.
