Your personal Ag Credit loan officer will be glad to discuss your own unique situation and help pick a loan term and rate that is right for you. The length of the loan term can range from as little as one month or as much as 30 years, depending on the loan program and rate selected. In general, loan terms can be broken down into three categories, short, intermediate and long term. Short (less than 18 months), intermediate (18 months to 10 years) or long term loan repayments (up to 30 years in special cases).
Typically a loan term corresponds to the life of the operation or asset being financed. For example, seed, fertilizer and other agricultural operating expenses are “used up” when the crop is grown. Loans for this purpose should be paid when the crop is sold. Conversely, loans for items that have a very long life like farm real estate are suited to longer terms, up to 30 years in some cases.
Our experts are here to help sort out rates and terms that fit your lifestyle. Contact us today and let us work for you.
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Ag Credit offers several interest rate options designed to help you better manage your interest expense. Learn more about rates here.
The length of the loan term can vary and can range from as little as one month or as much as 30 years. Find out what length is best for you here.