Just starting your farming operation? Are your cash needs increasing more quickly than your net worth? If so, a Farm Service Agency guaranteed loan provided by Heritage Bank may be the solution you are looking for. The benefits of the guaranteed loan programs include:
In addition to Heritage Bank providing Farm Service Agency guaranteed loans we work closely with them to provide financing for capital purchases. Currently loan programs are available whereby Farm Service Agency provides a direct loan to the borrower and Heritage Bank provides additional financing. There are also programs available that don’t require any down payment to be made by the borrower. The benefit of these programs are:
With all of the Farm Service Agency guaranteed loans, an Interest Assistance Program is available. If the borrower’s cash flow is not sufficient to service the principal and interest payments at the current market interest rates, this program subsidizes the interest rate by four percent.