Lending Products for Ag and Commercial Businesses

Agricultural Loans

These type of loans are used for the purchase and/or operation of a farm, including livestock purchases, machinery purchases, etc.  The terms of the loans are scheduled for repayment based on the cash flow of each operation. First State Bank uses the Farm Service Agency (FSA) loan guarantee programs to assist applicants who do not qualify for ag loans on traditional terms, in obtaining operating, machinery, breeding stock funds, etc. Some of these loans are eligible for interest assistance from the government by reducing the interest rate below market terms. First State Bank also participates in the State of Iowa "Beginning Farmer" Loan Program. This program allows a beginning farmer to obtain loans at below market rates for the life of the loan.

Commercial Loans

These types of loans are used for the purchase and/or development of new or existing businesses. All loans can be structured to meet the cash flow needs of your business. First State Bank uses the Small Business Administration (SBA) Guaranteed Loan Program for applicants not meeting traditional loan requirements. These loans can be used to assist those applicants who desire to purchase or start a new business. First State Bank also participates in the State of Iowa LINK loans that have been used to allow women, minorities or targeted small businesses to receive loans at below market interest rates.