Saying that wheat is an important crop would be an understatement. Wheat is responsible for a variety of the foods we eat every day: bread, cereal, pasta, baked goods, and much more. US farmers today grow about 50 million acres of wheat, providing food for millions of people inside and outside the country.
As commercial agriculture experts, the team at United Ag Lending is in tune with the unique challenges that wheat farmers face, like diseases, certain pests, and climate issues; that’s why we provide the financing necessary to overcome these challenges. With a wheat farm loan from United Ag Lending, you can run a successful operation.
Wheat farm loan requirements
If you meet these requirements, you are likely a candidate for a loan:
- Minimum loan amount of $500K
- 680 or higher credit score
- Property is 10+ acres
Wheat farm loan program highlights
The following items are just a portion of the perks you will have access to with your loan:
- Loan amounts $500k–$100 million
- Down payments as low as 25%
- Fixed farm loan rates from 10 years to 30 years
- 1-year to 15-year adjustable rates available
- Multiple properties or contiguous parcels allowed
- Outbuildings, sheds, and other land improvements allowed
Repayment
We understand that agricultural finances ebb and flow with the seasons; this can especially be true with wheat farms. Our flexible repayment options allow you to choose the schedule that works for you. You have the choice to repay monthly, semiannually, or annually.
No prepayment penalty
Many financial institutions penalize borrowers for paying off their loan early (prepayment). We accept prepayment without placing penalties on customers.
The United Ag Lending process
Our wheat farm loan process consists of three main steps: Consultation, Recommendations and Application, and a Continued Resource.
Step 1: Consultation
This first step is what we call a consultation, but it’s really just a conversation. We’ll learn about you and your wheat farm.
- What are your goals?
- What are the challenges you face?
- Where do you stand financially?
After we learn about your goals, we’ll talk you through our programs and get started on creating your personalized wheat farm loan.
For this next step, it’s not a bad idea to get familiar with some of the loan terms we’ll start tossing around: check out our glossary!
Step 2: Recommendations and Application
Leave it to our ag loan experts to start building your personalized wheat farm loan program. We’ll take everything we learned about you into consideration and provide you with a loan solution that makes your plans happen. This is the time to discuss your rates, terms, as well as answer all your questions.
Step 3: A Continued Resource
Once you’ve set off with your wheat farm financing, you can work toward making your goals happen knowing that we are here as a resource throughout your whole ongoing process.
If you need any assistance at any time, we can either set up a meeting or pick up the phone.
Set up a consultation
At United Ag Lending, we want to be a resource in helping you join the farmers who are feeding our communities.
Call us or send us a message to schedule your free consultation.
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