Areas Served: Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Ventura counties
The California Coastal Rural Development Corporation offers a Farm Loan program for Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Ventura counties.
DESCRIPTION Operating capital and mortgage loans to family farms eligible for a U.S.D.
A.
Farm Service Agency (FSA) guarantee.
USE OF FUNDS Crop production, harvest costs, farm ownership, farm improvements or equipment acquisition.
QUALIFICATION Eligible as a family farm as qualified by the FSA Loan Office.
MINIMUM & MAXIMUM AMOUNTS $10,000 to $1,119,000. U.S.D.
A.
may reset maximum loan amount annually.
MATURITY Dependent upon loan purpose, operating loans are generally 12-18 months.
Real estate loans up to 30 years.
INTEREST RATE Variable rates tied to National indices on production loans.
Rates on farm ownership and term loans are also tied to National indices but can reset every 5 years.
COLLATERAL Available business and personal assets including machinery and equipment, accounts receivables, inventory and real property.
FEES 2.90% fee plus closing costs.
Contact InformationCalifornia Coastal Rural Development Corporation
Address: 221 Main Street, Suite 300
City: Salinas
State: California
Website:
http://www.calcoastal.org/loan-programs/farm-loan/
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