Farmers Business Network (FBN®) has launched a new bridge loan offering through FBN Finance to provide farmers with financing solutions. The new offering is designed to assist farmers facing tight timelines on potential land purchases and want to be as competitive as possible while negotiating better prices. The bridge loan is an expedited land loan that enables borrowers to secure financing and close on land purchases in as little as three weeks, making it an ideal solution for those who need to act quickly.
The bridge loan offering has several benefits that make it a powerful tool for farmers. For instance, the loan amounts can go up to $2,000,000, with up to a 60% loan-to-value ratio (LTV). As a result, this financing can help farmers achieve their land purchase goals faster and more flexibly. Moreover, the bridge loan has shorter term timelines, which means that borrowers can pay off their loans more quickly and efficiently. This, in turn, can help farmers to increase their cash flow and reinvest in their businesses.
Farmers Business Network Finance is a subsidiary of FBN that offers farmers access to a network of lending partners that provide low rates and fair terms. FBN Finance has continued to experience rapid growth, surpassing $1 billion in total capital financed to borrowers. The finance offerings are designed based on farmer feedback and tailored to fit FBN members’ specific needs, including land financing, operating lines, equipment financing, and input financing. In addition, FBN’s innovative data analysis optimizes lending and underwriting decisions, enabling farmers to access the funding they need more quickly and efficiently.
The launch of the bridge loan offering comes after FBN’s recent livestock partnership with Boveta Nutrition™, strategic collaboration with Greeneye Technology Precision Spraying System, and the successful Farmer2Farmer event in Omaha, Nebraska. FBN is committed to providing farmers with the financial tools they need to succeed in today’s challenging agricultural landscape. The company’s focus on innovation and technology has enabled it to develop products and services that meet farmers’ evolving needs, helping them thrive in an ever-changing market.
Photo by Raphael Rychetsky on Unsplash
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