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Multigenerational Peanut Farmers Expand Operation with $1.5MM Loan

A father and son who operated a peanut farm together pay off debt and secure $1.27MM LOC.

The Challenge

This borrower’s farming experience began in 1962 when he and his father began growing peanuts and tobacco. In 2004, the tobacco land was converted to growing corn and hay, but the majority of the planted acreage continues to be peanuts. When his son became an integral part of the family farm business, they began seriously ramping up operations and thinking about expansion.
The Solution
Expecting a growth trend to continue as his son became more involved in the day-to-day operations, the father and son team requested a term loan to pay off existing debt plus a new $1.27MM line of credit. AgAmerica Lending took their request and offered a two-pack loan package that provided the financial flexibility needed for future expansion of the family farm operation.

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