PersonalBusinessagricultural
Accounts & CardsBorrowingInvestingInsuranceToolsAbout Us
View DemoLearn More
>>  Home  |  Solutions Centre - Details Printable Version
  • Solutions Centre - Details



    • Below is the Question & Answer that you have chosen to view on our online Synergy Solution Centre.

    If the answer to this question is not what you are looking for, please enter a comment into the provided comment box.

    You can also give us a "thumbs up" if you like the answer to this question!


    Agricultural Services
    Posted on: Aug. 25, 2009 I like this  Like This     Email to a friend  Email to a friend     Subscribe for updates  Subscribe for updates
    Q. Why is there an application fee on the farmer's loan?

    A. Cost recovery is essential in all business. And that’s the reason behind the application fees on agricultural and commercial business loans. Due to the complexity of commercial/agricultural borrowing requests, there is considerable time spent as a complete review of all the borrower’s needs is done each time a request is made, and fees are used to offset these services.

    Explore your options with your lender, as you might want to consider a re-advanceable loan or what Synergy refers to as a Super Mortgage that may assist you in reducing the fees you pay.