Read how two brothers transitioned their interest-only loan into a $1.1MM conventional loan.
AgAmerica understands that farmers and ranchers are often faced with challenges outside of their control. That’s why we provide a spectrum of loan products that can help farmers persevere when unpredictability strikes.
The Challenge
Two brothers returned to their family’s Southeast operation after studying agriculture in college to work on expanding row crop production by planting corn, soybeans, and hay. After facing drought and high temperatures over several growing seasons, the brothers turned to AgAmerica to refinance existing debt with a $990K interest-only loan. Upon regaining financial traction and strengthening their operation, they returned to AgAmerica to restructure their short-term loan into a more long-term solution.
The Solution
AgAmerica transitioned their total debt obligation into a $1.1MM 30-year term loan. Through this refinance, the brothers were able to secure a $40K cash out for rising production costs and create a more financially resilient operation.
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