Agricultural Loans

Get Farm & Agribusiness Loans from an Experienced Lender

Since our inception in 1903, Bank of Hazelton has been committed to helping farmers and ranchers build successful businesses.  Farming and agribusiness are a major focus for the Bank of Hazelton. We specialize in agricultural finance. With our roots running deep in the agricultural community, our experienced agricultural banking professionals offer your business a dedicated and unique perspective that you simply won’t find with large national or regional banks. Our bankers are the area’s longest-serving group of Ag lenders, bringing together more than a decade of Ag experience among them.  More than 50% of our loan customers are in agriculture or an agriculture-related business, so whether you need money for major improvements, expansion, equipment, or operating capital, Bank of Hazelton has a solution for you.

Agricultural Loans

  • Operating Loans or Line of Credit for all types of farming operations including farms, ranches, and feedlot operations
  • Livestock Purchases
  • Machinery & Equipment Purchases
  • Buildings and improvements including bins and farm homes
  • Real Estate Loans
  • Land Purchases
  • BND (Bank of ND) Participation/Guaranteed Loans
  • Ag PACE Loans for farmers and ranchers
  • FSA (Farm Service Agency) Guaranteed Loans/Subordinations
  • We can also finance your non-farm investments

Operating Line of Credit

Whether for cattle, crops, or both, Bank of Hazelton offers a line-of-credit to provide the working capital you need to support your operating cycle:

  • Commitments are generally for a one-year term
  • Funds are advanced based on the availability of current assets as collateral, such as livestock, feed and grain, and hedging accounts
  • Advance rate is generally 70% of current assets pledged; however, it could be higher depending on the nature of the assets
  • Interest rates may be fixed or variable and are determined by your financial condition

Livestock Loans

Bank of Hazelton offers term notes to finance your breeding herd:

  • Commitments are generally for 3-5 years
  • The Bank will generally provide up to 70% of the market value of your herd
  • Interest rates may be fixed or variable and are determined by your financial condition

Machinery & Equipment Loans

Is it time to replace that old tractor or expand your facilities? Our agricultural banking professionals can provide the loan you need:

  • Commitments are generally 5-7 years, depending on the useful life of the collateral pledged
  • The Bank will generally fund 90% of the purchase of new equipment or 75% of the purchase or the refinancing of used equipment
  • Interest rates may be fixed or variable and are determined by your financial condition

Farmland Loans

  • Commitments are generally on a 5-year term or less with a balloon payment on the purchase or the refinancing of farmland
  • The Bank will generally advance the lesser of 65% of the appraised value cost on the purchase of irrigated farmland or 70% of dry land
  • When refinancing farmland, the Bank will typically finance 65% of the appraised value of irrigated land or 70% of dry land
  • Interest rates may be fixed or variable and are determined by your financial condition

Our Agricultural banking professionals provide prompt service including analysis of your financial situation. Our professionals understand agriculture in our area and loan decisions are made locally.

Application Checklist

  • Existing Company:
    • 3 years of Historical Business Financial Statements
    • Most recent interim Business Financial Statement
    • Last 3 years Business Tax Returns
    • Personal Financial Statement
    • Depending on the purpose of the loan you are requesting you may be asked to provide the following:
      • Accounts Receivable and Account Payable Aging
      • Inventory List
  • New Company:
    • Business Plan
    • Monthly Projections
    • 3-Year Projections
    • Personal Financial Statement
    • Small Business Administration Application

If you need help choosing which agricultural loan option would be best suited for your business, you can call or stop in and talk to one of our agricultural banking professionals that will help guide you to the one that best suits your businesses needs and goals.

To apply for your agricultural loan, stop by the Bank of Hazelton location at 363 Main Street, Hazelton, North Dakota. Or get started by calling us at 701-782-6295 for questions regarding the process or to request a loan application. Call and talk to an agricultural banking professional during our Customer Service hours, 8:30 AM to 4:00 PM Monday - Friday.