Product Definitions - Operating Loans

Operating loans and multi-year lines of credit provide you moeny for your daily business needs including planting expenses, labor, seed and much more. They also are used to meet family living expenses, educational expenses or other needs while waiting for the annual harvest to come in.  Below is a definition of operating products available. 

Libor Indexed

This rate is indexed to a 30-day London Interbank Offered Rate (Libor) and adjusts on the first of every month based on the Libor rate on the 10th of the previous month.

Adjustable

This rate is fixed for a year and then will automatically re-price to another one year product until final maturity.

Fixed

A one-year fixed rate is avaialble with maximum terms of up to 15 months.  This loan allows for multiple disbursements during the year which means you benefit from its flexibility yet you have the security of a fixed rate.

Variable

This rate may change on the first of every month.