Livestock loans can be used for two purposes: refinancing previously existing livestock loans or obtaining new livestock.
Livestock lending is a very specialized type of lending that only a limited number of banks and other financial institutions engage in. With our connections in the Northwest Missouri and Southern Iowa communities, and our awareness of the importance of thriving agriculture to our local economy, BTC Bank is dedicated to helping you advance your agricultural business goals. Make us your partner in expanding your farm or ranch with the livestock and farm real estate financing you need.
As a longtime community bank, all of our branches (Bethany, Gallatin, Albany, Pattonsburg, Chillicothe, Carrollton, Boonville, Beaman, Trenton, Maysville, Osborn and Buffalo in Missouri, and Lamoni, Iowa) are staffed with loan officers who possess a deep and localized knowledge of the agricultural community and its needs.
The process of applying for a livestock loan
If you are a livestock producer, you may already be familiar with the broad parameters of applying for one of these loans. If you are interested in entering the business, the process may be new to you. Here are some of the things you can expect with a livestock loan.
- As with other types of ag loans, variable and fixed rates are available on livestock loans
- A loan for a livestock purchase is usually part of a package that includes the other elements required for livestock production (namely, farm equipment and machinery, land, and potentially ag real estate loans if new buildings are needed for the land, or existing buildings need to be rehabilitated)
- The agricultural lenders at BTC Bank, as active members of the community who are interested in putting you in the right loan, may be able to assist you in determining the amount of money you need for a loan that covers this broader range of items
Obtain financing for your livestock loan today