Florida farmer refinances existing debt to decrease annual payments by 43 percent.
The Challenge
This landowner’s property boasted 1,200+ acres of hay, peanut, and timberland situated in Florida’s Panhandle. It included a home with an in-ground swimming pool, a hay storage shed, a dog boarding kennel, and a pond but carried high annual payments that limited the owner’s liquidity needed to maintain and improve upon their property.
The Solution
By restructuring the borrower’s debt, AgAmerica was able to reduce the borrower’s payments by over $100,000 to save her 43 percent annually. Additionally, the borrower was approved for a line of credit that they could use for any business purpose at any time as needed.
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