Texas Farmer Secures $1.3MM Fixed-Rate Loan to Combat Rising Input Costs
Learn how this Texas farmer refinanced existing debt and increased cash flow with AgAmerica.
Amid rising input costs, securing working capital can keep your operation on track for long-term success.
The Challenge
A Texas farmer who had been farming since 1970 sought financing to keep his operation on track. His operation recently transitioned from growing sugar cane to producing corn, beans, cotton, and sorghum. After having a poor experience with his former lender, he sought a lender who truly prioritized American farmers and ranchers and understood their needs. In addition, he needed working capital to address rising input costs.
The Solution
After discovering AgAmerica, the borrower worked with us to secure a 30-year fixed-term loan. The $1.3MM loan refinanced the borrower’s existing debt while also providing flexible working capital. The fixed-rate structure provided stability so the farmer could plan ahead—a welcome thing in an industry accustomed to volatility. Finally, the increased cash flow equipped the farm to operate at maximum effectiveness despite rising input costs.
