TS Ag Finance closed a $2,000,000 loan with borrowers located in Texas. The borrowers chose the Ag Equity RLOC with a five year draw period, 30 year term and 25 year amortization, utilizing the Farmer Mac loan program. The initial interest rate is variable for five years with semi-annual interest only payments. The interest rate can be converted to a fixed interest rate after five years (when the revolving feature matures). The borrowers pledged 10,863 acres of irrigated farmland producing cotton lint and hay, native pastures, CRP and improvements as collateral and used the funds for refinancing exiting real estate debt.