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AG SERVICES OF AMERICA NOTIFIED OF $5 MILLION INCREASE IN BANK LINE OF CREDIT

 AG SERVICES OF AMERICA NOTIFIED OF $5 MILLION
 INCREASE IN BANK LINE OF CREDIT
 CEDAR FALLS, Iowa, March 26 /PRNewswire/ -- In response to its recent request, Ag Services of America, Inc. (NASDAQ: AGSV) has been notified that it is being granted an additional $5 million increase in its existing line of credit resulting in a total bank line of $34 million. The terms and conditions of the credit facility remain the same.
 The two banks participating in the credit facility are Norwest Bank of Iowa, N.A. and Rabobank Nederland.
 Management is very pleased with the increase which will be used to continue the strong growth pattern of the company. Demand for the company's crop input supply and financing program continues to grow. Total dollars in customer applications currently received by the company exceed last year at this time by 68 percent. There is no assurance, however, that all applicants will qualify for the program or that the company will have the capacity to accommodate all the business.
 Ag Services of America, Inc. supplies farm inputs with credit terms including seed, fertilizer, agricultural chemicals, crop insurance and cash advances for land rent, fuel and irrigation to farmers primarily in the central United States.
 -0- 3/26/92
 /CONTACT: Ag Services, 319-277-0261/
 (AGSV) CO: Ag Services of America, Inc. ST: Iowa IN: FIN SU: FNC


AL -- MN008 -- 1998 03/26/92 13:01 EST
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Publication:PR Newswire
Date:Mar 26, 1992
Words:233
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