Welcome to American Bank of Commerce

November 21, 2013

Dear Ag Producer:
To expedite the process of getting your 2013 business brought to date and your 2014 loan application reviewed and processed, there are several items of information that we need to complete the loan application. This information will be used on all farm expense operating loans. Needed forms are attached to the right of this page for your use in supplying the information required. Forms description is outlined below.
 Forms Provided in Farm Operating Package (see ABC Forms section on this page)
1)     Financial Statement - We would like your financial statements on ABC forms or, if used, FSA Farm and Home Plans that are complete and legible.
2)     Machinery and Equipment List - Your list should include changes if any from last year, whether added or sold, and any applicable serial numbers. Last years list is included if applicable. Make all changes as needed to fully and accurately describe your equipment used for collateral on your loan.
3)     Farm Worksheet - Your list should include the crops, acres, FSA Farm Number, legal description, and your ownership / rental share. We have included last years listing that you presented to us as applicable. Please review it for accuracy and make any changes necessary for us to have current and accurate information.
4)     Farm Operating Budget - Projection of monthly expenses for 2014 crop year.
 Information to be Provided by Applicant
5)     Government Payments – For us to calculate your government payments, please provide us with a CCC-509 form on each of the farm numbers you are farming.
6)     Yield information - For us to determine average yields, we will need the last 5 years of actual production history (APH) information from the FSA office or your Crop Insurance Agent’s office.
7)     If we do not have it in your file currently, we must have a copy of your 2012 tax return, and your C.P.A.’s projected tax liability for you for the 2013 crop year.
8)     A complete list of trade accounts outstanding (list of bills outstanding and still due for the 2013 crop year for fuel, fertilizer or chemicals, insurance, parts, spraying, etc.). You should have this listing on your current financial statement.
 Requested on Loan Information Sheet (see ABC Forms section on this page)
9)     Where you plan to market your crops.
10) 2014 Crop Insurance - Type (crop hail and/or multi-peril) of crop insurance you plan to obtain and where you plan to get such insurance. We will need copies of the policies when you get them.
Your spouse will need to sign the loan agreement, security agreement, and equipment list, giving security in the collateral pledged on the note/notes. Your spouse will also need to sign your financial statement presented in your loan application.
When you turn in your applications, please have someone review it before leaving to make sure all documents are in place and complete. Loan applications will be worked and presented to the appropriate loan committee in the order they are received. It usually takes one to two weeks for the loan presentation process. Please be patient with us during loan season. If you have questions or problems, please give us a call or come by.
Thank you for your cooperation and understanding. WE APPRECIATE YOUR BUSINESS!

The American Bank of Commerce Ag Lending Staff


    Ag News Page

    Ag Contact Us Page