In an era where most banks shy away from agricultural loans, United Citizens Bank & Trust has a staff in place which has deep roots in farming and understands the special needs which today's farmers possess. In fact, since our founding in 1872, United Citizens Bank & Trust has been a leader in agricultural finance serving the needs of both full time and part time farmers alike. We offer both fixed rate and adjustable rate loans on farmland, livestock and equipment. Our interest rates are among the most competitive in the industry. We offer a wide array of loan programs which target the needs of both beginning farmers and established farmers alike.
AGRICULTURAL INFRASTRUCTURE LOAN PROGRAM
In participation with the Kentucky Agricultural Finance Corporation, United Citizens Bank & Trust is pleased to offer BELOW market fixed rate financing for the acquisition, renovation, and construction of agricultural structures that enhance the profitability of the individuals farming operation(s). Lakes and fencing are included. Loan amounts can be up to $250,000 not to exceed 50% of the total project cost (total project cost up to $500,000). Fixed rates are available for up to 15 years at rates significantly below normal market rates. The balance of the project's cost will be financed by United Citizens Bank & Trust at a very competitive rate of interest.
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BEGINNING FARMER LOAN PROGRAM
The Beginning Farmer Program is designed to assist individuals with farming experience who desire to develop, expand or buy into a farming operation. Beginning farmers can qualify for financing to purchase livestock, equipment, agricultural facilities, to secure permanent working capital and to make a down payment on real estate or invest in a partnership or LLC. Fixed rate financing is available for up to 15 years at a below market rate. Loan amounts can be up to $250,000 for new investments.
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USDA PARTICIPATION LOANS FOR FARM OWNERSHIP
In participation with the USDA's Farm Service Agency, United Citizens Bank & Trust is pleased to announce a joint financing program for real estate purchases. With this program the borrower obtains up to 50% of the funds needed from United Citizens Bank & Trust at either a fixed or variable rate of interest for up to 40 years while the remaining 40% is provided by the Farm Service Agency at a below market rate for up to 40 years!! There is down payment assistance, if necessary, for the remaining 10% needed to complete the purchase.
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DIRECT FARM OWNERSHIP DOWN PAYMENT LOANS
By partnering with the USDA Farm Service Agency, down payment assistance is available for beginning farmers. The program has a loan limit of up to $225,000 which is based on 45% of the purchase price or appraised value, whichever is less. As provided by law, the interest rate will be the current USDA Farm Ownership rate less 4% or 1.5% whichever is the higher of the two choices. The maximum loan term is 20 years.
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USDA GUARANTEED LOANS
United Citizens Bank & Trust is please to offer a guaranteed loan program for agricultural producers. These loans provide guarantees for up to 90% of the principle balance and can be utilized for purchases of real estate, livestock or equipment.
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COUNTRY LIVING LOANS
If you plan to build that "dream house" in the country, we have a loan product just for you. While most residential lenders have acreage limitations which restrict lending on multiple acreage tracts, United Citizens Bank & Trust has no such restrictions. If you need adequate acreage for a few head of livestock, an orchard or vineyard, or you name it...we can help.
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