Operating Lines of Credit
Whether you operate a stocker operation or a cow-calf operation, everyone needs operating capital to plant and fertilize wheat, pay for lease pasture expenses, buy fuel and fertilizer, and to pay personal bills until the cattle go to market. Welcome to the site of Southern Oklahoma’s premier agricultural lender. We know ranching like no other lender in this part of Oklahoma, and have the experienced lending staff to back that claim! Agricultural lending has been the bedrock upon which First National Bank was founded going all the way back to 1889! If you need a cattle operating line of credit and are interested in making a banking move, First National Bank needs to be on your interview list. Ask the ranchers in Southern Oklahoma, they’ll tell you! We understand cattle lending!
Competitive rates that are usually floated at a margin over “WALL STREET JOURNAL PRIME RATE AS PUBLISHED IN THE MONEY MARKET SECTION OF THE WALL STREET JOURNAL.”
Loan terms vary, but in most stocker operations the loans are designed to be re-paid when the cattle are expected to be taken to market.
Collateral for an operating note can be cattle, farm equipment or other ranch assets. Apply now!
In addition to completing a loan application, it is generally recommended that you bring along the following additional financial information to expedite your loan request:
- A business financial statement (if you are incorporated), and copies of business tax returns covering a 3-year period if possible.
- A personal financial statement and copies of 3 years of personal tax returns if possible.
- A business plan indicating the economics of the cattle operation. Feed costs, holding periods and anticipated weight gain, death loss and profits based on the cattle market are typical discussion points.
- If we are financing an existing ranching operation, a cattle inspection and evaluation by one of First National’s lending staff will be required. Cattle inspections are normally conducted at least annually thereafter.
