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FSA Guaranteed Farm Loan Programs FSA Guaranteed Farm Loan Programs TIDBITS/HELPFUL HINTS November 2015 Lender Meetings State Office Staff Dan Gieseke Farm Loan Chief Email = [email protected] Sandra Waibel State Farm Loan Specialist Email = [email protected] Janet Bollinger State Farm Loan Specialist Email = Lorna Plowman State Farm Loan Program Technician Email = 601 Business Loop 70 W Parkade Center, Suite 225 Columbia, MO 65203 Telephone (573) 876-0980 Fax (855) 830-0682 INDEX Subject 0BPage # 1. Why Should USDA’s Farm Service Agency Be Your Lender of First Opportunity? …………………….. 1-2 2. MO State Fact Sheet – FSA Guaranteed Farm Loan Programs …………………………………………… 3-4 3. Direct Loan Information Sheet ………………………………………………………………………………………………………………. 5 4. Missouri Agricultural and Small Business Development Authority (MASBDA) Fact Sheet …………………… 6 5. MO FSA Guaranteed Lender Website ……………………………………………………………………………………………………. 7 6. Average County Farm Acreage – Missouri ……………………………………………………………………………………………. 8 7. Weekly Funds Report ……………………………………………………………………………………………………………………………. 9 8. Email or Faxed Applications ……………………………………………………………………………………………………………………. 10 Appeal Rights – Guaranteed Loans Lender Conflict of Interest Guaranteed Forms 9. FSA-2211: CLP & SEL Guaranteed Application …………………………………………….…………………………………. 11-15 10. FSA-2212: PLP Guaranteed Application ………………………………………………………………………………………….. 16-17 11. 2-FLP Exhibit 5 Electronic Access ………………………………………………………………………………………………………… 18-20 12. Guar Loan vs. Direct Loan Comparison ………………………………………………………………………………………………… 21 13. Direct Loan Subordination or Guaranteed Loan? …………………………………………………………………………………… 22 14. Subordination of Direct Loan Security – 2-FLP Requirements, par.279 ………………………………….. 23 15. Loan Narrative Requirements ………………………………………………………………………………………………………………. 24-25 16. Definitions: Beginning Farmer, SDA, Embedded Entity, Entity, & Family Farm ………………………………… 26-27 17. Full Legal Name – Loan Limits - Loan Guarantee % ………………………………………………………. 28 18. Guar 1.5% Loan Fees …………………………………………………………………………………………………………………………….. 29 19. MO Linked Deposit Program-Beginning Farm Loans ……………………………………………………………………………. 30 20. 1.5% Fee Paid by Lender ……………………………………………………………………………………………………………………….. 31 21. Maximum Interest Rates & Minimum Lender Requirements ……………………………………………………………... 32-33 22. Environmental Requirements ……………………………………………………………………………………………………………………… 34-35 23. Livestock Environmental Evaluation & NMP Screening Table ……………………………………………………………… 36 24. Nutrient Management Plan (NMP) Requirements …………………………………………………………………………………… 37 25. MO DNR CAFO Requirements ………………………………………………………………………………………………………………. 38 26. CAFO County/Local Restrictions & Zoning Ordinances ………………………………………………………………………… 39 27. EPA CAFO Inspection Tips ……………………………………………………………………………………………………………………. 40 28. Floodplain Position Paper …………………………………………………………………………………………………………………….. 41-42 29. OL/LN Term Loan Purposes …………………………………………………………………………………………………………………. 43 FO/LN Term Loan Purposes 30. OL/LOC Loan Purposes …………………………………………………………………………………………………………………………. 44 31. Loan Terms – Determined by Loan Type & Security ……………………………………………………….. 45 Open Accounts/Non-Disturbance Agreements 32. Documentation of Cash Flow Feasibility ………………………………………………………………………………………………….. 46 33. Determining Financial Feasibility of Loans – 2-FLP Par.151 ……………………………………………... 47-49 34. Loan Agreement ……………………………………………………………………………………………………………………………………. 50-52 35. Existing Promissory Notes – Allonge ………………………………………………………………………………………………………. 53 36. Secondary Market Allonge – Promissory Note Signature Requirements …………………………………... 54 37. Pre-Nuptial Requirements ……………………………………………………………………………………………………………………….. 55 38. Guaranteed Loan Request to Refinance Existing Guaranteed Loans …………………………………………………….. 56 39. Bridge Loan & Counterparty Risk ………………………………………………………………………………………………………… 57 40. Amish/ Mennonite Insurance Requirements ……………………………………………………………………………………………. 58 Request for Notice of Sale 41. Utilizing FSA’s Direct and/or Guaranteed Loan Programs to Purchase Farm at Public Auction ……….. 59 Federal and State Income Tax Forms 42. Amount of Security in Today’s Volatile Market ……………………………………………………………. 60 43. Amount and Quality of Security - “Adequate” ……………………………………………………………… 61 44. Amount and Quality of Security - “Lien Position” …………………………………………………………... 62 45. Separate & Identifiable Security ……………………………………………………………………………………………………………… 63 Financing Livestock Financing Machinery 46. Chattel Security Requirements ……………………………………………………………………………………………………………….. 64 Transfer of Ownership Assets When Legal Ownership/Title Could be Questioned Leased Equipment 47. UCC1 MO Secretary of State ………………………………………………………………………………………………………………….. 65 48. Secretary of State and County Lien Searches …………………………………………………………………………………………. 66 49. FSA-2232 Conditional Commitment ………………………………………………………………………………………………………. 67-70 50. FSA-2201 Lender’s Agreement ……………………………………………………………………………... 71-76 51. FSA-2235 Loan Guarantee …………………………………………………………………………………………………………………….. 77-78 52. FSA-2233 Lender Certification ……………………………………………………………………………………………………………….. 79 53. Using the Appraisal to Determine the Useful Life of Security ………………………………………………………………… 80 Depreciation Can Affect Repayment Capacity 54. Poultry Mitigation ……………………………………………………………………………………………………………………………….. 81-84 55. Selling Guaranteed Loans on the Secondary Market ……………………………………………………………………………. 85-86 56. Famer Mac II, Return On Assets (ROA) Calculator ………………………………………………………………………………. 87 57. OL/LOC Annual Operating Loan Renewal Requirements ……………………………………………………………………... 88 58. OL/LOC Beginning of Year Balance ……………………………………………………………………………………………………… 89 59. OL/LOC Loan Advances for Term Debt Payments ………………………………………………………………………………… 90 Two Months Before the End of the Year & At the Beginning of Cash Flow Year 60. OL/LOC Annual Operating Loan Servicing Suggestions/Recommendations …………………………………………… 91 61. Maximum OL/LOC Loan Advance & Farm Income Release Worksheet: MO 2-FLP Guide 35 …………… 92 62. Family Living Reconciliation Table: MO 2-FLP Guide 15 ……………………………………………………………………… 93 63. Annual Financial Analysis by Lender ……………………………………………………………………………………………………… 94 64. General Loan Servicing Responsibilities ………………………………………………………………………………………………. 95-96 65. Lender’s Loan Analysis Documentation: MO 2-FLP Guide 21 …………………………………………. 97-98 66. Guaranteed Loan Servicing Approval Authorities Reserved for State Office …………………………………………. 99 67. Emergency Advances ……………………………………………………………………………………………………………………………… 100 Additional Loans Unauthorized Payments Payment Priority 68. Partial Releases – With & Without FSA Concurrence ……………………………………………………. 101-102 69. Subordination of Guaranteed Loan Security ……………………………………………………………………………………………103 70. Release of Liability Upon Withdrawal …………………………………………………………………………………………………… 104 71. Servicing Distressed Accounts - Delinquent Loans ………………………………………………………………………………… 105 72. Delinquent Loan Servicing Time Line (SEL & CLP): MO 2-FLP Guide 2 …………………………………………… 106 73. Rescheduling, Reamortization, Consolidation & Deferral Checklist: MO 2-FLP Guide 16 ……………….. 107-111 74. Lender Liquidation Plan: MO 2-FLP Guide 28 ………………………………………………………………………………… 112-113 75. Loss Claim Checklist: MO 2-FLP Guide 29 ……………………………………………………………………………………… 114-115 76. Net Recovery Value Calculation Worksheet (2-FLP Handbook Exhibit 10) ………………………………………….. 116 77. Bankruptcy Servicing …………………………………………………………………………………………………………………………… 117-118 78. Offset – Loss Claim Recovery – FSA Guaranteed Loans Reported to Credit Bureau …………………… 119 79. What’s in the 2014 Farm Bill for FSA Customers? ………………………………………………………. 120-124 80. RD- Value Added Producer Grants ………………………………………………………………………………………………………. 125 81. RD – Renewable Energy & Energy Efficiency Grants …………………………………………………… 126-127 82. Quick Reference to SBA Loan Guaranty Programs ……………………………………………………………………………. 128-129 83. List of FSA Farm Loan Managers/Farm Loan Officers/Program Technicians …………………………………… 130-131 84. 2016 FSA Crop & Livestock Commodity Prices …………………………………………………………………………………….. 132 Why should USDA’s Farm Service Agency We s pecia lize in : Loans for be your lender of beginning farmers, disaster recovery, operational financing, first opportunity? and farm ownership Farm planning and The farming industry has undergone many changes in recent counseling years, resulting in new types of small farming and ranching enterprises. These include value-added farming operations, Supervised credit and organic farming, immigrant farming, and growing crops for local assistance through the life of your loan retailers or direct sale to consumers. Sustained financial New federal programs have been enacted to stimulate planning services beginning and younger farmers to establish new, or retain ownership of existing, small family farms. These exciting new trends in rural America present the USDA’s Farm Service Agency (FSA) Farm Loan Programs (FLP) with opportunities for increased lending activity in the farming community. So, why should USDA’s Farm Loan Programs (FLP) be your lender of first opportunity? We are your advocates. Farm Loan Programs staff are predisposed to award loans, therefore putting the staff on the customer’s side. FLP staff want to see you succeed. This is evident in our consultative approach, offering low rates and identifying other resources to our clients in an advisory fashion throughout the life of the loan. We think outside the box. FLP staff keep up with the industry trends and constantly look for emerging and non-traditional
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