lending
Farming is a way of life in Iowa, and Marion County Bank is proud to serve as a lending partner for our local farmers. Whether your farm is focused on crops, livestock, or a mix of both, our lenders are ready to work with you to provide the right ag loan solution that will allow you to maintain and grow your operation. Contact our ag lending team to discuss how we can provide the right loan for your farm.
Loan Option | What You Should Know About This Loan |
|---|---|
Term Loans | These fixed rate loans allow you to finance a variety of things while budgeting for a consistent monthly payment. Term loans can be used to purchase new equipment for your operation, make facility improvements, and much more. |
Lines of Credit | Many farmers experience seasonal changes in cash flow. With a line of credit, you can draw funds as you need them and only pay interest on what you borrow. As you repay the principal amount, it becomes available to borrow again. |
Livestock Loans | Livestock loans give you the financing to purchase feeder or breeder livestock. Feeder livestock loans are generally due around the market date for the livestock being fed. Breeder livestock loans term vary based on the age and species of livestock. |
Real Estate Loans | Purchase new farmland or land for future development with an ag real estate loan. These loans can provide full financing for land purchases or use your existing equity to fund other capital projects. |
Do I need to have a checking account at Marion County Bank to get approved for a loan?
In many cases, we ask that our commercial borrowing customers conduct their operational depository business through an account at our bank.
What financial information do I need to have in order to apply for a agricultural loan?
This can vary, but the following list of documents will provide a good start:
If my operation is a corporation or a Limited Liability Company (LLC), what documentation do I need to apply for a loan?
Copies of any legal documents you accumulated when you formed your entity. Such as: Articles of Incorporation, Bylaws, Operating Agreements, and/or any similar documents that describe your entity's ownership and officers. In addition, a copy of the IRS letter assigning your entity its Federal Tax ID number.
I want to buy a farm, how much of a down-payment do I need?
A down-payment of 25% of the farm's value is typical. This can be in the form of cash and/or by pledging owned equity in other real estate assets.
What loan programs do you have for beginning farmers?
Our ag loan officers have considerable experience working with both Federal and State programs that can be utilized to reduce down-payment requirements and/or loan interest rates for beginning farmers.
David Greving
Sr. Vice President, Credit Administration
Divisions: Ag Lending, Lending
Location: Pella Office
Phone: (641) 628-2191
Brian Hauser
Vice President, Sr. Loan Officer
Divisions: Ag Lending, Business Lending, Lending
Location: Pella Office
Phone: (641) 628-2191
Trey Sathoff
Agricultural Loan Officer
Divisions: Ag Lending, Business Lending, Lending, Personal Lending
Location: Pella Office
Phone: (641) 628-2191
Robert Poppe
Vice President, Agricultural Loan Officer
Divisions: Ag Lending, Business Lending, Lending
Location: Knoxville Office
Phone: (641) 828-8000
