Active Community Member Expands Family Operation with 30-Year Term Loan
Read how a multigenerational farmer built upon his family legacy through AgAmerica’s spectrum of customizable loans.
Between fierce competition in the market and increasing land values, more multigenerational farmers are finding it harder and harder to purchase land. Recognizing this growing issue, AgAmerica is committed to making rural land ownership more attainable for everyone through our spectrum of financing solutions.
The Challenge
A fourth-generation farmer and his wife were actively involved in pushing legislative reform that helped remove the barriers of entry in the industry for the underserved agricultural community. They both worked on their multigenerational operation and were interested in expanding their cattle herd with the purchase of a nearly 1,000-acre lot in the Virginia countryside. The competitive market made buying land a daunting task, but this strong-willed farming family was up for the challenge. Even after a previous property fell through when the sellers suddenly backed out, they remained steadfast in their dream and searched for a lender who would do the same.
The Solution
The more AgAmerica had the opportunity to get to know these borrowers, the more we were inspired by their dedication to creating a brighter future filled with opportunities for American farmers. We worked closely with the farmers to customize a 30-year conventional loan with a fixed rate. The loan was adjusted to accommodate a complicated credit history and was used to purchase a new property that supported their expansion goals.
