Your business deserves the attention of a lender who lives and works in your community, who understands your business strategy and who works with you to achieve your goals. At Shelby County State Bank you will find lenders who have years of experience helping customers develop and grow their businesses. We can help you take full advantage of your financial options such as:

  • Revolving lines of credit
  • Commercial real estate loans
  • Inventory and equipment financing
  • Letters of credit
  • SBA Guarantee loans

Receive a FREE NO OBLIGATION INSURANCE QUOTE from Landmark Insurance Agency

Loan Programs

Ag Real Estate Loans

In the market to buy farm property? Check out SCSB's New Financing Options for Ag Real Estate Loans.

An alliance between SCSB and the American Bankers Association enables us to offer new loan products that help finance existing or new ag mortgage loans at a discounted rate to our customers. Along with those discounted rates are a variety of new options including rates that are fixed for 10, 15 and 20 years.

Who is Eligible?

These new loans are designed to benefit those who are US citizens involved in agriculture and agribusiness as well as farmers and ranchers.

What is Eligible?

These loans can be used for a purchase, or commit to purchase, a first mortgage on ag real estate. It can be a single-family residence, primary or second home. Ag production must be feasible and intended. There is no minimum or maximum acreage requirement. However, if the property is less than five acres, $5000 minimum annual gross sales of agricultural products from the property must be documented. The property can also include facilities used in storage, processing and marketing of agricultural products.

What Loan Options are Available?

Shelby County State Bank now offers a variety of ag real estate loan products to suit your individual situation including:

  • Adjustable Rate Mortgages - Fixed interest rates for the initial loan period, then new rates adjusted to the new rate environment.
  • Variable Rate Mortgages - The 5-year variable rate mortgage has a fixed interest rate for the initial 5-year period. Then the interest rate adjusts for two additional 5-year periods.
  • Fixed Rate Mortgages - There are 10-year, 15-year and 20-year fixed rate loan options available. Payment frequency options include monthly, semi-annual or annual payments. By offering these flexible loan terms and competitive rates, SCSB can provide those involved in ag a risk management tool to balance short-term borrowings with a fixed-rate mortgage. Contact a loan officer at any SCSB location for more details as to how this new loan program can give you the best deal on ag real estate purchases.

Contact Randy Coenen.

For security purposes, please do not e-mail personal information such as your address, phone number, Social Security Number, Mothers Maiden Name or account numbers.

Beginning Farmer Loan Programs Available through SCSB

Getting started on your own in farming requires capital, and that can be a challenge. The Beginning Farmer Loan Programs through Shelby County State Bank enable beginning farmers to purchase farmland with the advantage of low interest rates.

A beginning farmer can participate in this and other Iowa Agricultural Development Division (IADD) programs through SCSB, as long as the applicant and the project meet guidelines.

Loan Participation Program

The Loan Participation Program assists low-income farmers to secure loans and make down payments. IADD participation can be used to supplement the borrower’s down payment, helping a farmer secure a loan more readily.

Beginning Farmer Tax Credit Program

This program allows agricultural asset owners to earn tax credits for leasing their land, equipment and/or breeding livestock to beginning farmers.

Beginning Farmer Custom Farming Tax Credit Program

This tax credit program offers a tax credit to anyone hiring a beginning farmer to do agricultural contract work for the production of crops or livestock.

More information is available at Iowa Finance Authority or by contacting a SCSB Loan Officer at Shelby County State Bank.