For over 100 years the First National Bank of Le Center has built its customer relationships by lending to the areas agricultural producers. We are proud of that fact and will continue the commitment with quality service to ag producers. First National Bank is dedicated to your long term success and financial growth. We work with you to develop an understanding of your operation; then utilize our expertise and advice to determine profitable solutions for you. Both fixed and variable rate terms are available on most of our loan products.
Through our conventional loans and participation in the state and federal programs, we are able to properly structure the financial needs of each individual producer.
Operating Loans and Lines of Credit
We offer loans for your short term and annual farm operation expenses such as feeder livestock purchases and crop production costs. Loan terms may range from 30 days to one year or may be set up as revolving lines of credit that allow qualified borrowers to use the available funds when they need them. We also offer guaranteed operating loans in cooperation with the Farm Service Agency.
Equipment and Vehicle Loans
When you plan to purchase or update your farm equipment, we offer flexible financing options that are tailored to your operation. We offer fixed and variable rate loans with maturities up to five years. The amortization may be up to 10 years if necessary or in conjunction with FSA and other guarantee programs. Your down payment can consist of cash or equity in your trade-in and payments can be scheduled to coincide with your projected income stream.
Agricultural Real Estate Financing
First National Bank offers long-term financing to purchase real estate, building construction, and consolidation of other obligations. We offer competitive packages that include fixed and variable interest rates amortized from 15 to 25 years. We also participate in Minnesota Rural Finance Authority (RFA), Federal Aggie Bond, and the guarantee programs through FSA.
State and Federal Programs
The staff at First National Bank is experienced in all government programs available to the area. We work closely with FSA, RFA, and the SBA which allows us to offer a variety of programs to assist young-beginning farmers, expansion projects or purchases, restructure programs, and other loan assistance programs with several options and flexible terms. Our bank helps support the Farm Business Management program through the South Central Technical College and utilizes the same software for financial analysis of the farm operation.