UNITED FARMERS COOPERATIVE 0% Seed Finance
UNITED FARMERS COOPERATIVE
Program Details
0% Seed Finance
APPLICATION PROCESS Simple Application Process 1. Credit application
• 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.
Approval Requirements 1. Credit in good standing with UFC 2. Subject to credit approval by CFA 3. $10,000 minimum loan amount for seed only 4. Extend UFC the opportunity to purchase all grain produced
• Participating associations, such as UFC, enter into an agency agreement with CFA to participate.
Collateral Requirements Lien position, assignment of insurance, buyers notification and other collateral requirements are based on loan size and credit quality.
• The program is administered in a joint effort between UFC and CFA.
Loan Fees $150 per year (only if approved).
The Seed Finance Package is a fixed 0% loan until November 15, 2011. Thereafter variable rate applies.
Loan Approval Time Typically, a credit decision is communicated to UFC within 48 hours of receiving a complete application. SEED REPAYMENT TERMS Maturity Date is January 15, 2012. The seed must be purchased between October 1, 2010 and February 1, 2011. LOAN PURPOSES SEED ONLY Loan Types Secured loans up to $2, 000, 000 with additional information. Unsecured loans up to $150,000.
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 CRC or RA 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
0% Seed Finance
APPLICATION PROCESS Simple Application Process 1. Credit application
• 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.
Approval Requirements 1. Credit in good standing with UFC 2. Subject to credit approval by CFA 3. $10,000 minimum loan amount for seed only 4. Extend UFC the opportunity to purchase all grain produced
• Participating associations, such as UFC, enter into an agency agreement with CFA to participate.
Collateral Requirements Lien position, assignment of insurance, buyers notification and other collateral requirements are based on loan size and credit quality.
• The program is administered in a joint effort between UFC and CFA.
Loan Fees $150 per year (only if approved).
The Seed Finance Package is a fixed 0% loan until November 15, 2011. Thereafter variable rate applies.
Loan Approval Time Typically, a credit decision is communicated to UFC within 48 hours of receiving a complete application. SEED REPAYMENT TERMS Maturity Date is January 15, 2012. The seed must be purchased between October 1, 2010 and February 1, 2011. LOAN PURPOSES SEED ONLY Loan Types Secured loans up to $2, 000, 000 with additional information. Unsecured loans up to $150,000.
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 CRC or RA 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
