Farm Operating Line of Credit
Janus Ag Finance offers a Revolving Line of Credit. This is ideal for the established farm operation with strong equity and good income history. The line of credit eliminates meetings with your lender whenever you need operating money. Ag Equity Loans are a revolving line of credit loan secured by real estate with a revolving draw period of 5 or 10 years and a total term of up to 30 years.
- Low interest rates below what most banks charge for operating loans
- Loan is secured by real estate. No inventory reporting or permission required to draw on the credit line.
- 24 hour wire transfer to your checking account with no loan committee or loan review.
- Works like a credit card. Pay the credit line down when crops are sold and draw against when needed. Interest is charged only on outstanding balance. Semi-annual interest payments due on January 1st and July 1st
- Draw period of 5 or 10 years then converts to an amortized fixed rate loan of up to 25 years
- Credit Line is available for any agricultural or business use.
- Loans to 50% of the value of the land
- Loan may be split into long term real estate loan and variable line of credit
- $50,000 minimum loan
- Good credit required - Credit Scores over 660 - Free Credit Report
- 3 years tax returns to document history of adequate income
- Requires total debt /total assets ratio no more than 50%
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Farm Operating Line of Credit Page |
