AgFAST is
a "credit scoring" loan approval process that takes limited
information about an applicant and converts that data into a credit score.
Through this process, loan approval for nearly any agriculture-related
purpose can be issued within hours or even minutes. This loan program
is especially suited for today’s fast-paced lifestyle, when convenience
and quality customer service are essential.
Eligibility
The AgFAST
program is available to both full- and part-time agricultural producers
and agribusiness operators who have a relatively
simple financial business structure.
Criteria
New loans,
renewals and additional advances that meet the following criteria may
be processed under AgFAST:
- The aggregate
total of all requests approved through AgFAST may not exceed $250,000.
- The loan
and other AgriLand loans with the borrower must be classified as acceptable,
or an approved third party must fully guarantee the loan. Any loan classified
"substandard" or lower will disqualify the request for consideration
under AgFAST.
- Applicants
with a history of bankruptcy(ies), charge-off(s) or judgments are generally
ineligible.
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