As one of the largest agricultural lenders in the state of Ohio, Citizens National Bank works with our farmers to understand their goals and find the most cost-effective way to achieve them. Many times that includes purchasing land. As a preferred lender for Farm Service Agency (FSA), CNB can offer long-term, fixed rates on real estate that may allow farmers to realize their dream of expanding their acreage without stressing their cash flow.
FSA Guarantee Program
Provides Citizens National Bank a guarantee of up to 95 percent of the loss of principal and interest on a loan. Terms available from 90 days up to 30 years for a fixed rate option. Rates are typically lower with this program than traditional loans.
(Note: all applicants for direct FO loans must have participated in business operation of a farm for at least 3 years.)
- Must be the owner or the tenant operator of the farm.
- Used for both Farm Ownership and Operating purposes.
- Good option for beginning farmers offering the opportunity for lower down payments. To qualify, the beginning farmer must:
- (1) have not operated a farm or ranch for more than 10 years
- (2) meet the loan eligibility requirements of the program to which he/she is applying
- (3) substantially participate in the operation
- (4) for FO loan purposes, not own a farm greater than 30 percent of the median size farm in the county
- If the applicant is an entity, all members must be related by blood or marriage, and all stockholders in a corporation must be eligible beginning farmers.
- In order to apply, applicants must supply 3 years of tax returns and financial statements.
- Notification of approval is usually received within 2 weeks.