Product Definitions - Livestock, Improvement and Facilities Products

An intermediate term loan can be used to finance breeding livestock or other capital items up to 7 years, or specialized facilities up to 10 years. Below is a definition of terms available.  You can reduce your rate even more on many of these products by signing up for the Flex Program which will reduce the rate by a quarter to a half-a percent. This reduced rate is available by agreeing not to make early principal payments during the first 3 or 5 years of your loan contract.

Fixed Rates

The loan rate is fixed for the entire term and there are no balloon payments. Fixed rates are available for 3, 5, 7 and 10  years and can be converted to other products should interest rates play in your favor.

Libor Indexed Loans

The loan rate is indexed to the 30-day London Interbank Offered Rate (Libor) and adjusted on the first of every month based upon the Libor rate on the 10th of the previous month.

Adjustable or Convertible Rates

These loans may be priced on 1, 3 or 5 year periods and will automatically reprice to the same product until final maturity.

Variable Rate

Loan rates may change - up or down - on the first of every month.