Business and Ag Loans
Business Loans
We offer all types of loans for small businesses, whether it is a loan to purchase a business, to refinance an existing business loan, to purchase inventory or equipment, for working capital needs, or to help you expand. We offer both fixed and variable interest rate plans along with flexible repayment options. We also work with the Small Business Administration and other community development agencies to enable us to provide you with the type of loan that you need. Just contact Duane Peterson (duanep@1stamstatebank.com) to discuss your options and needs.
Our commercial loans can provide:
- Flexible terms
- Quick decision turnaround time
- Free automatic transfer from your checking or savings account
- Free access to our internet banking product
- Optional low cost Credit Life and, in some instances, Credit Disability Insurance
In order to expedite your commercial loan application, the following is a list of information that you will need to provide with your application:
- Personal Financial Statement of all owners with more than 10% ownership
- Detailed, signed Balance Sheet and P&L Statements within 90 days of the application date.
- Detailed one-year projection of income and expenses
- A listing of names and addresses of any subsidiaries and affiliates
- The type of business (sole proprietorship, partnership, LLC, corporation and type of corporation)
- Signed Business Federal Income Tax Returns for the past three years
- Signed Personal Federal Income Tax Returns for the past three years
Your loan officer may require other information in addition to these.
Agricultural Loans
Our bank is committed to providing the agricultural lending needs within our communities. We would like to be your partner in any of your agriculture lending needs. Whether it is for operating expenses, to purchase machinery and equipment or for long term real estate loans, we can provide you with the necessary capital. We also deal with government farm programs through the Farm Service Agency. Just contact Duane Peterson (duanep@1stamstatebank.com) to discuss your options and needs.
Our agricultural loans can provide:
- Flexible terms
- Quick decision turnaround time
- Free automatic transfer from your checking or savings account
- Free access to our internet banking
- Optional low cost Credit Life and, in some instances, Credit Disability Insurance
In order to expedite your Agricultural loan application, the following is a list of information that you will need to provide with your application:
- Personal Financial Statement of all owners with more than 10% ownership
- Detailed one-year cash flow projection of income and expenses
- The type of farming operation (sole proprietorship, partnership, LLC, Sub S or C corporation)
- Signed Business Federal Income Tax Returns for the past three years if a corporation or partnership
- Signed Personal Federal Income Tax Returns for the past three years
Your loan officer may require other information in addition to these, and can even help you put together a financial statement, crop or livestock plan and cash flow for the coming year.