First National Bank Mahnomen Twin Valley is located in the heart of agricultural country. We have an experienced lending staff which understands agribusiness and all the needs of an Ag Borrower. To give our Ag Borrower the best terms and products available, our lenders work with the Agricultural Best Management Practices Loan Program (www.mda.state.mn.us/grants/loans/agbmploan), the Farm Service Agency (www.fsa.usda.gov) on FSA Guaranteed Loans, and we are also an approved Farmer Mac I and Farmer Mac II (www.farmermac.com) Lender. We offer:
- Lines of Credit - Agricultural credit lines allow qualified borrowers to have access to credit lines when they need it the most. An agricultural line of credit gives our borrowers the ability to make necessary purchases for the farm operation while only paying interest on the amount of money owed and not the entire credit line. This flexible financing option gives the borrower the opportunity to keep pace with different business cycles throughout the year while keeping the operation in full swing without having to apply for a conventional loan.
- Ag Real Estate Loans - For long term financing of land purchases, building expansions, improvements, facility renovations, or refinancing. Use our Ag Real Estate product along with various federal and state programs to tailor a loan package for the experienced or beginning farmers. Up to 25 year amortizations are available along with competitive variable and fixed rates offered.
- Equipment Loans/Leases - First National Bank Mahnomen Twin Valley can meet our ag customer's needs through traditional financing or by writing a lease on a new piece of equipment.
- Through traditional financing we can offer fixed or variable rate loans with terms ranging from two to five years. Our lenders will work with our borrowers to come up with a convenient repayment plan to maximize farm cash flow objectives.
- Leasing is a valuable alternative for equipment financing needs. Leasing is a cost effective way to acquire the equipment needed to stay competitive and profitable in today's ag economy. By leasing equipment, profits are created through the use of the equipment, and not the ownership of it. Leasing helps keep bank lines of credit open and intact for short term operating needs while giving the borrower a tax advantage.