Preferred Agency Staffing Loan

Why Choose Us?

With our Preferred Agency Staffing Loan, you can borrow up to $15,000* for each producer you wish to hire to help grow your business and meet your goals. No salary matrix or monthly wage analysis required. Payments are deferred for the first 90 days. Giving you ample time to get your producers actively selling and paying for themselves! Apply today and hear back within one business day, guaranteed!

About Us

Our credit union got its start serving Farmers® agents over 80 years ago. In fact, we were created for Farmers® agents by Farmers® agents. Helping agents grow their business and personal wealth is in our DNA. Discover the “other” Credit Union for Farmers® agents today.

For more information and any additional questions, call our commercial department at 888.855.6905.

$15,000 per hire ($45,000 max)
60 month term
No payments due for 90 days
Offer valid for staff hired within previous 90 days
Business debt is not reported on personal credit report

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Rates as low as

APR*

All Rates

Loans for Farmers® Agents and District Managers

Loan Type	APR	Terms (months)
Contract Value Loan^4,6	as low as f	up to 180
	as low as v	up to 180
Contract Value Line of Credit^4,6,7	as low as v	up to 120
Contract Value Loan for District Managers⁸	as low as f	up to 120
Leads Loan ¹⁰	as low as f	6
Preferred Agency Staffing Loan⁹	as low as f	60
Office Equipment Loan³	as low as f	up to 48
Smart Office Loan	as low as f	up to 60
Business Line of Credit^4,5	as low as v	up to 60
Internal Acquisition¹¹	as low as 6.49% f	up to 180
External Acquisition	as low as 10.25% f	up to 180

f-fixed, v-variable

Rates and terms may vary based on a borrower’s credit qualifications. All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval.

3 - Borrow up to $50,000 for new computers, including software and peripherals, new office furniture, other business equipment, etc. Borrower is responsible for any UCC filing fees.
4 - The Annual Percentage Rate is variable and subject to change on the first of each month. The quoted rate is established by adding a factor (based on borrower’s credit profile) to the 26-week Treasury Bill rate, rounded up to the nearest ¼%.
5 - Maximum loan amount is $50,000.
6 - Loans are secured by an agent's Contract Value. Rate varies based on the term of the loan. Other terms and conditions apply, see credit union for details.
7 - Maximum credit limit $300,000
8 - Loans are secured by the DMs contract value. Other terms and conditions apply, contact the credit union for details
9 - Preferred Agency Staffing Loans are secured by Contract Value. Rate varies based on borrower’s qualifications. Maximum loan amount $15,000.00 per hire / $45,000.00 maximum TOTAL loan amount, not to exceed 80% of available Contract Value. Minimum loan amount $500.00. Existing staff who were hired 90 days before loan application may also qualify. Offer letter, to be provided, must include new hire name and hire date.
10 - 90-day deferment period followed by a 6-month amortization period. The deferral period will only apply to the first installment for loans funded under this program.
11 - Maximum loan amount not to exceed 80% of the available contract value for borrower with a 680+ credit score. Rates and terms may vary based on a borrower’s credit qualifications.

All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval. For a $100,000 Contract Value loan with a term of 180 months at 9.24% APR the monthly payment will be $1029.

I have never been so happy dealing with a financial institution in my lifetime. NW Preferred and its people were a dream to work with! In less than a week, I had the funds in my account! Thank you so much
Bill, Farmers Agent

*Disclosures

*APR (Annual Percentage Rate). Quoted rate is for borrower with a 680+ credit score. Preferred Agency Staffing Loans are secured by Contract Value. Rate varies based on borrower’s qualifications. Maximum loan amount $15,000.00 per hire / $45,000.00 maximum TOTAL loan amount, not to exceed 80% of available contract value. Minimum loan amount $500.00. Existing staff who were hired 90 days before loan application may also qualify. Offer letter, to be provided, must include new hire name and hire date. Other terms and conditions apply, see Credit Union for details.