Operating Loans

Flanagan State Bank is committed to agriculture and to our local farmers. Our services give our farm customers a competitive edge over their peers by emphasizing cash flow analysis in making loan decisions and improving their business.

Farm Service Agency (FSA) guaranteed operating loan programs are used in Central Illinois counties to offer a reduced rates of interest for beginning farmers and customers with tighter cash flows. These loans are guaranteed by the federal government and therefore do not require a family guarantor or co-signer.

Summary
  • Low-rate loans to cover a number of agricultural needs
  • Affordable payment plans
  • Lending plans customized to your operation
  • Local decision-making for better efficiency
  • Lenders familiar with the local agriculture market
Loan Programs

FSA Operating Loans/Machinery Programs

The Farm Service Agency (FSA) guaranteed loan programs are used in central Illinois counties to offer a reduced rates of interest for beginning farmers and customers with tighter cash flows. Interest can be reduced by 4% for those who qualify, with loan limits per borrower. These loans are guaranteed by the federal government and therefore do not require a family guarantor or co-signer.

IFA Loan Programs

Flanagan State Bank participates in all programs which the Illinois Finance Authority (IFA) has developed for the benefit of Illinois farmers. These loans include: specialized livestock guaranteed loans that are intended for the expansion and development of livestock farms; the Young Farmer Guarantee Loan for the purchase of machinery and/or real estate without a cosigner; and the most popular, the Beginning Farmer Bond Program. This program uses tax-exempt bonds to reduce the interest expense for farmers who meet certain qualification requirements.

Illinois State Treasurer Link Deposit Loans

Flanagan State Bank knows that agriculture is a major component of Illinois' economy, and lending operational and long-term money at a rate that is attractive to farmers assists in keeping the agriculture backbone of Illinois strong. A borrower may receive these loans by completing a simple application form with Flanagan State Bank and certifying that he/she will be using the funds for goods and services related to the production of agriculture products or alternative agriculture products. These loans have limits per borrower and operation for operating money and per operation for machinery purchases. Contact one of our Ag Lending Officers for more information.