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| I believe he is talking about the Iowa Beginning Farmer Loan. Much easier process than the FSA loan. Basically, the interest is tax free for the bank, so they can loan at a lower rate (on equal tax footing with Farm Credit). From my experience, it could mean a rate 1-3 points lower than normal bank financing. Although, in the current environment, I'm not sure if managing tax liability is a big concern with many banks.
http://www.iada.state.ia.us/downloads.htm
Brandon | |
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New Farmer Loan in Iowa
