In celebration of National Ag Day, the Iowa Finance Authority (IFA) today announced Premier Bank in Rock Valley as the Top Beginning Farmer Loan Program Bank of the year and Jayme Ungs of Peoples Bank in Boone as the Beginning Farmer Loan Program Lender of the Year for 2025.
The awards recognize the lending institution and loan officer who assisted the greatest number of individuals through the Beginning Farmer Loan Program in 2025, helping aspiring farmers secure the financing needed to start, grow and strengthen their operations.
“Last year, IFA assisted 234 farmers in purchasing more than 32,000 acres through our Beginning Farmer programs—made possible by outstanding partners like Jayme Ungs at Peoples Bank, Premier Bank, and lenders statewide.”
IFA’s Beginning Farmer Loan Program helps new farmers acquire farmland, buildings, machinery, equipment and breeding livestock through reduced interest rates. Loans are financed by participating lenders or contract sellers using federal tax-exempt bonds issued by the Iowa Finance Authority. Interest received on contract sales or direct loans by individuals is also exempt from state income taxes, creating another incentive to support the next generation of Iowa farmers.
“Getting started in agriculture can be challenging, and programs like this help remove some of those barriers,” said Jayme Ungs of Peoples Bank. “With the resources and incentives available through the Iowa Finance Authority’s beginning farmer programs, local lenders can help make farmland and equipment more accessible for the next generation of Iowa farmers.”
Source : opportunityiowa.gov