Agricultural Loans in Ohio

At Consumers National Bank, we’re committed to supporting Ohio farmers with agricultural loans and flexible financing options. We understand the unique challenges of running a farm and offer tailored loan solutions to meet your needs. Even if you’re looking to expand your operation, acquire new farm equipment, or finance farmland, our agricultural financing options are designed to help. Our team of trusted agricultural lenders is here to provide the expertise and backing you need to secure your farm’s future.

Sarah Grubbs, our agricultural loan specialist, has years of experience and is dedicated to helping you manage the financial side of your farming business.

Options Available:

• Fixed rates are available up to 30 years
• Adjustable rates available in 3, 5, 7, and 10-year periods, based on applicable Treasury-Bill Rate Guidelines:
  • Loan-to-value ratio of up to 80% on purchase or construction
  • Loan-to-value ratio of up to 65% on cash-out
  • Minimum debt coverage of 1.15:1 on most loans

Farm Equipment Loans

Options Available:

• Terms up to 84 months
• Minimum loan amount of $2,000
• Annual payments to meet the cash flow stream

Guidelines:

• Loan-to-value on used equipment up to 75%
• Loan-to-value on new equipment up to 100%
• Minimum debt coverage of 1.15:1 on most loans

Loan availability is subject to the borrower meeting eligibility and credit guidelines. Terms are subject to change. FSA guarantee fee may apply.

Consumers Bank also offers Revolving Lines of Credit and Installment Loans.

Beginning Farmer Loans

Through the Farm Service Agency’s Beginning Farmer Loan Program, Consumers National Bank can help young family members make the transition into the family farm business.

For the FSA loan program, a Beginning Farmer is defined as an individual or entity who:

• Has not operated a farm for more than 10 years;
• Meets the loan eligibility requirements of the program to which he or she is applying;
• Substantially participates in the operation and;
• Does not own a farm greater than 30 percent of the average size farm in the county, at the time of application.

(All applicants for Beginning Farmer loans must have participated in the business operations of a farm for at least three years). If the applicant is an entity, all members must be related by blood or marriage, and all entity members must be eligible Beginning Farmers.

The FSA also offers down payment assistance for Beginning Farmers and socially disadvantaged farmers when purchasing a farm. Retiring farmers may use this program to transfer their land to future generations.

FSA Guaranteed Loan Program in Ohio

Through the Farm Service Agency's (FSA) guaranteed loan program, agricultural producers can access funding to support their farm.

The FSA Guaranteed Loan Program provides lenders like Consumers Bank with a guarantee of up to 95 percent of the loss of principal and interest on a loan. This enables them to lend to farmers who might not normally qualify for a loan.

FSA-guaranteed loans are for both farm ownership and operating purposes. Like the Direct Loan Program, a percentage of Guaranteed Loan funds is targeted to beginning farmers and ranchers and minority applicants.

Guaranteed Ownership Loans

Guaranteed Farm Ownership (FO) Loans may be made to purchase farmland, construct or repair buildings and other fixtures, develop farmland to promote soil and water conservation, or to refinance debt.
 

Guaranteed Operating Loans

Guaranteed Operating Loans (OL) can be used to purchase livestock, farm equipment, feed, seed, fuel, farm chemicals, insurance, and other operating expenses. Operating Loans can also be used to pay for minor improvements to buildings, costs associated with land and water development, family living expenses, and to refinance debts under certain conditions.

Borrower Eligibility

To qualify for a loan, the applicant must:

• Be a citizen of the United States (or legal resident alien)
• Have an acceptable credit history as determined by the lender;
• Have the legal capacity to incur the obligations of the loan;
• Unable to obtain a loan without a guarantee;
• Not have caused FSA a loss by receiving debt forgiveness on more than 3 occasions on or prior to April 4, 1996; or any occasion after April 4, 1996;
• Be the owner or tenant operator of a family farm after the loan is closed. For an OL, the producer must be the operator of a family farm after the loan is closed. For an FO Loan, the producer also needs own the farm;
• Not be delinquent on any Federal debt.

In addition to meeting the eligibility criteria, the loan applicant must have a satisfactory credit history, demonstrate repayment ability, and provide sufficient security for the loan. Loan availability is subject to borrower meeting eligibility and credit guidelines. Terms are subject to change. FSA guarantee fee may apply

Ready to grow your farm in Ohio? Unlock the potential of your agricultural ventures with Consumers agricultural loans. Contact us and learn your options.

Grow Your Farm with Consumers’  Agricultural Loans

Consumers National Bank is ready to support your growth with consumer agricultural loans. Even if you're looking to expand your operation or find farm business loans, we have the financing options you need. Contact us today and experience how we can help your farm thrive!

FAQs About Farm Real Estate Loans

What Are Agricultural Loans?

Agricultural loan services provide personalized financing options to help farmers cover a variety of needs, including purchasing new equipment, refinancing land, or expanding operations. If you're interested in farm real estate loans or need funding for agricultural construction, we offer competitive rates and flexible terms to support your farm’s growth.

What Are the Agricultural Loan Requirements?

To qualify for an agricultural loan, borrowers generally need to meet specific requirements. For farm real estate loans, the most common criteria include the ability to demonstrate a solid credit history, the legal capacity to repay the loan, and the appropriate collateral. Ag real estate loans are designed to help farmers purchase or refinance land for farming purposes. If you're looking to secure land or equipment for your agricultural business, our agriculture loans offer the necessary capital with flexible repayment terms.

Speak with one of our experts today to see how you can qualify for a loan tailored to your needs.

What Are the Benefits of Agricultural  Construction Loans for My Farm?

Agricultural construction loans are ideal for farmers looking to build new facilities, expand operations, or improve existing infrastructure. These loans can cover the costs of building barns, silos, and other agricultural structures. With our farm loans, we provide the necessary funds to help grow and optimize your farm's capabilities.