The financial health in the farm sector remains better than historic averages, but there has been an increased need for borrowing as loan demand hit an 11-year-high among farmers and ranchers.
AgAmerica Lending is one of the largest non-bank agricultural lenders in the United States, focused solely on agricultural real estate financing. AgAmerica is changing the way today’s farmers, ranchers, and landowners finance their dreams with their spectrum of conventional and alternative land loan programs.
Today’s economic stresses paired with a predicted late, smaller harvest has placed an abnormal amount of financial pressure on America’s farmers, especially those with existing farm debt and operational expenses. For some farmers, now could be the ideal time to determine whether the pros of farm debt consolidation outweigh the cons and if consolidation is the right decision for your operation.Read More
Applying for a loan can be a scary, frustrating process, especially when your time is dedicated to planting, harvesting, or caring for livestock—but with the right preparations in place, it can be a less daunting of a process. Read More
If there is one thing we know about farming, it’s that sometimes things don’t go as planned. The unpredictability of the weather, commodity and market prices, and crop yields can result in tremendous volatility for a farmer and their family. Recently, government tariffs on commodities and severe weather events have made a significant impact on farmers’ ability to produce a good margin of profitability to plan for future years. When obstacles like this occur, many farmers consider refinancing their farm operation to recover from the previous year.Read More
Your credit score–the three-digit number that relates to how likely you are to repay debt—is an important aspect of your financial future. After all, it determines whether you receive the loan you’re applying for and the rates you’ll pay. According to the financial experts at Nerd Wallet, the lifetime cost of higher interest rates from bad or mediocre credit can exceed six figures. On the other hand, borrowers can leverage strong credit scores for fantastic deals on loans, credit cards, and insurance premiums.
Before working to secure an agricultural land loan, potential loan borrowers (loan borrower meaning an individual, organization or company using funds, materials or services on credit) should consider whether they have the 5 C’s of Credit, with the first two being character and capital.Read More
Find out how working with trusted ag lenders, crop consultants, insurance agents and attorneys can help your farm thrive.
Running a modern agricultural operation requires a diverse range of skills, including, but not limited to crop planting and management, soil fertility maintenance, financial planning and business expertise, sales and marketing know-how, and preparing for an uncertain future.
Here are a few things to keep in mind when investing in new equipment for your farming operation.
Although they’re often necessary, it’s no secret that new farm equipment and machinery purchases are typically costly – but according to retired economist William Edwards, making smart decisions when it comes to acquisition, trading, and how much capacity to invest in can reduce machinery costs as much as $50 per acre.
In this article, we discuss a breakdown of farm machinery and equipment costs and whether or not those purchases will truly serve you and your operation.Read More
