FSA Guaranteed Loans
Century Bank is a Certified Lender and participates in all FSA Guaranteed Loan programs. Guaranteed Loan programs can be used to finance operating needs or restructure debt, purchase real estate, livestock, machinery or other farm assets. Guaranteed loans may provide the operator the opportunity to obtain financing they might otherwise be unable to receive with conventional financing products. We have extensive experience processing and administering guaranteed loans, which means your loan will always be handled in a professional manner.
Young Farmer Loans through FSA/4H Loans
Century Bank is a big supporter of our youth, especially the next generation of agriculture producers. Century Bank feels there is an enormous amount of potential in the future of production agriculture and will do anything it can to help young producers get started. We will put in time to help the young farmer get started with their project and do what we can to help ensure a successful and profitable experience. We offer direct loans to beginning farmers and also work with our local FSA offices to help young farmers get started in agriculture at an early age. If no loan is needed, we are also available to offer any advice or assistance that we can.
FSA offers their Youth Loan program to area youth; this program offers an extremely low interest rate and the ability to borrow up to $5,000.00. Repayment terms are flexible, depending on the project.
To qualify for this loan:
- Be a citizen of the United States
- Be between 10 and 20 years of age
- Live in the open country or in a town of less than 10,000 people
- Be unable to get a loan from other sources
- Conduct a modest income-producing project in a supervised program of work
Some common projects include, but are not limited to, livestock and crop production, lawn and garden services, repair shops and roadside stands. Funds can be used to buy animals, equipment, supplies or tools. Funds can also be used to provide operating expense or rent.
This is an excellent opportunity for young farmers to get started in agriculture and raise funds for college.