Operating for seven generations, this borrower’s farm and its longevity can be attributed to adjusting with variances in the market and crop diversification. There are nine commodities that contribute to the farm’s income: corn, cotton, soybeans, peanuts, tobacco, wheat, canola, cattle, and swine. The borrowers have 10 hog houses, and the swine market remains a very stable source of farm income.
The borrowers realize that with grain prices projected to be lower in the coming years, they need to prepare for decreased margins. However, they are also planning for future operations and possible expansion, so reducing annual principal and interest payments will prove important. The borrowers would like to refinance several existing mortgages into a longer-term, lower-interest rate loan with greater flexibility. AgAmerica’s $2.85MM loan package saved the borrower 44% annually, or $357K per year.
GET A LOAN
Ready to make the first move to a stronger financial future? We need just the basics from you to get the conversation started. Answer 4 verification questions and you’ll be on your way.