Agriculture Services

Farm Improvement Loan

This is a federal government guaranteed loan program designed to provide farmers and farmer cooperatives with farm financing. Operating under the Farm Improvement and Marketing Loans Act, it accommodates a wide variety of financing needs.

• A Farm Improvement Loan may allow you to:
  • purchase farm real estate, livestock (breeding herd), and farm equipment (including repairs),

  • construct farm buildings,

  • purchase crop storage condominiums, or

  • consolidate debt (under special circumstances).
• Floating and/or fixed rate payments may be made on a monthly, quarterly, semi-annual or annual basis.

• Generally, the repayment terms coincide with the life of the asset being financed. Maximum terms are 10 years for most purchases, and up to 20 years for additional land purchases.

• Usually the asset being financed is used as security for the loan.

Amounts:

80% of the purchase price may be financed up to a

• maximum $250,000 per farmer,

• maximum $3,000,000 per cooperative.