FAQ

Answers to commonly asked questions about the CRP cash-out process

• Am I eligible to sell my CRP payments for a cash lump sum now?
  If you receive CRP payments for farmland, ranchland, wetland or woodland, you are eligible to sell us your remaining CRP payments for their discounted present cash value.
• How soon can I receive a cash sum for my future CRP payments?
  We can usually provide you with ready cash for your CRP payments within a matter of days.
• How much can I expect to receive for my CRP payments?
  Individual CRP buyout arrangements are personalized according to the terms that you work out with our CRP Purchase Specialist, but you'll find our rates to be among the lowest in the business. We strive to offer the highest possible present value for your remaining CRP payments.
• What additional charges will there be?
  Your cashout quote from our CRP Purchase Specialist will represent our complete buyout arrangement with no hidden fees or surcharges. The dollar amount you see will represent the working capital that you get and can use immediately.
• Do I have to sell all of my CRP payments or contracts?
  You decide how many of your CRP payments you want to sell. We'll offer one or more custom CRP buyout quotes hand-tailored to your personal financial circumstances and needs.
• If I sell only part of my CRP payments or contracts, how/when do I receive the balance?
  The balance of each CRP payment (if we buy a portion of each payment), or your remaining CRP payments (if we buy your CRP payments for a certain length of time) will be sent to you within 20 business days after we receive the payment.
• Can I get a general quote or rate offer without going through the entire process?
  Yes, it's easier than 1-2-3! You're only two steps away from an offer. Use the online CRP purchase quote form, send us a fax or a letter or give our CRP Purchase Specialist a call. Simply tell us your total annual CRP payment amount, how many years remain in your CRP contract, and if you own or lease the CRP land. Be sure to include contact information, and your personalized CRP cashout quote will be on its way to you almost immediately.
• What is required of me, after I sell my CRP payments?
  We don't impose any special requirements for your CRP cash payments. Just maintain your eligibility according to your existing CRP contract, as you would normally do.
• What if I sell my land?
  If you should decide to sell your CRP land, our CRP Purchase Specialist can explain the process of re-acquiring your remaining CRP payments.
• Can I re-acquire my CRP payments?
  Certainly! If, for any reason, you want to re-acquire your remaining CRP payments, our CRP Purchase Specialist stands ready to help and advise you.
• What are the tax consequences of selling my CRP payments?
  Since we are purchasing your CRP payments, rather than loaning you money, the cash we provide is income for you. We recommend that you consult your accountant about the three-year income averaging option available to most farmers and ranchers.
• What happens to the information I provide you?
  In general, your personal and business information will be used only by First Western Federal Savings Bank in connection with your personalized CRP buyout quote and/or a future CRP buyout arrangement. Your information will never be sold, rented, or passed to anyone for any reason (aside from compliance with law enforcement officials). Please see our Privacy Policy and Security Policy for details, or fax , write or call Jeff Fullerton or Pam Silver to discuss your concerns.