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FACT SHEET
OPTION #1: Cattle/Sheep/Bison
STANDARD APP ADVANCE
- ADVANCE IS BASED ON NUMBER OF "LIVE" HEADS
- SALE PROCEEDS OF LIVESTOCK MUST GO DIRECTLY ON THE ADVANCE, AT THE SAME ADVANCE RATE THAT WAS ORIGINALLY USED FOR THE SAID ADVANCE., AS SALES TAKE PLACE
- PROOF OF SALE MUST BE PROVIDED OR THE PENALTY IS PRIME PLUS 0%
OPTION # 2: Cattle/Sheep/Bison
12 MONTH ADVANCE-CONTINUOUS FLOW OPERATIONS
(I.E. FEEDLOTS OR REVOLVING LIVESTOCK)
- PRODUCER(S) HAS 12 MONTHS TO PAY LOAN IN FULL, AND
ON MATURITY WILL BE ALLOWED AN ADDITIONAL 15 DAYS IF REQUIRED
- PROOF OF SALE IS REQUIRED BY MATURITY DATE, BASED ON THE NUMBER OF HEADS THAT WERE ORIGINALLY PLEDGED, OR THE PENALTY IS PRIME PLUS 0%
OPTION # 3: Cattle Only
EMERGENCY ADVANCES
- ADVANCE GIVEN ON ANTICIPATED CALF CROP.
- PRODUCER MUST PROVIDE DOCUMENTATION OF PREVIOUS YEARS INVENTORY.
(I.E. INCOME TAX, CAIS INFO, ETC.)
- LOAN DUE IN 12 MONTHS
- ON MATURITY, 50% OF THE BALANCE IS DUE NO LATER THAN 15 DAYS, AND THE REMAINING 50% CAN BE REPAID NO LATER THAN 45 DAYS.
- PROOF OF SALE REQUIRED BY MATURITY. OR THE PENALTY IS PRIME PLUS 0%
NO ADVANCE CAN EXCEED THE DATE OF SEPT 30-2009
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