3.50% Crop Production Loans uniteD FarMers cooPerative
United Farmers Cooperative
Program Details
3.50% Crop Production Loans
Application Process Simple Application Process 1. Credit application 2. Crop worksheet
• CFA is a financial services cooperative with more than 140 local and regional cooperative members utilizing the Input Finance Program (IFP). • The IFP originated in 1988 and is strongly supported by our membership. • Participating associations, such as UFC, enter into an agency agreement with CFA to participate. • The program is administered in a joint effort between UFC and CFA. * This is a variable rate loan instrument that is based on CFA Base Rate of 3.50% as of 8/28/13.
Approval Requirements 1. Credit in good standing with UFC 2. Subject to credit approval by CFA 3. Extend UFC the opportunity to purchase all grain produced Collateral Requirements Lien position, assignment of insurance, buyers notification and other collateral requirements are based on loan size and credit quality. Loan Fees $150 per year (only if approved). Loan Approval Time Typically, a credit decision is communicated to UFC within 48 hours of receiving a complete application. crop production repayment terms Maturity Date: Spring Planted Crops—no later than January 15th Fall Planted Crops—no later than August 15th The maximum loan length is 20 months. loan purposes crop production only Loan Types Secured loans up to $350,000 Secured loans up to $2,000,000 with additional information Unsecured loans up to $250,000
Loan Formula Maximum loan amount =
Applicant’s Full Share Acres x Average Production History x Level of Insurance Coverage x County Loan Rate • or •
Applicant’s Full Share Acres x RP Crop Revenue Guarantee Per Acre *CFA does not provide financing for crops that are to be fed. For more information, contact Peggy Hopwood at: (402) 362-8431 or (888) 343-0323
Program Details
3.50% Crop Production Loans
Application Process Simple Application Process 1. Credit application 2. Crop worksheet
• CFA is a financial services cooperative with more than 140 local and regional cooperative members utilizing the Input Finance Program (IFP). • The IFP originated in 1988 and is strongly supported by our membership. • Participating associations, such as UFC, enter into an agency agreement with CFA to participate. • The program is administered in a joint effort between UFC and CFA. * This is a variable rate loan instrument that is based on CFA Base Rate of 3.50% as of 8/28/13.
Approval Requirements 1. Credit in good standing with UFC 2. Subject to credit approval by CFA 3. Extend UFC the opportunity to purchase all grain produced Collateral Requirements Lien position, assignment of insurance, buyers notification and other collateral requirements are based on loan size and credit quality. Loan Fees $150 per year (only if approved). Loan Approval Time Typically, a credit decision is communicated to UFC within 48 hours of receiving a complete application. crop production repayment terms Maturity Date: Spring Planted Crops—no later than January 15th Fall Planted Crops—no later than August 15th The maximum loan length is 20 months. loan purposes crop production only Loan Types Secured loans up to $350,000 Secured loans up to $2,000,000 with additional information Unsecured loans up to $250,000
Loan Formula Maximum loan amount =
Applicant’s Full Share Acres x Average Production History x Level of Insurance Coverage x County Loan Rate • or •
Applicant’s Full Share Acres x RP Crop Revenue Guarantee Per Acre *CFA does not provide financing for crops that are to be fed. For more information, contact Peggy Hopwood at: (402) 362-8431 or (888) 343-0323
