North Carolina Tobacco Farmers Increase Working Capital with $463K Refinance

Learn How AgAmerica’s Accelerated Loan Program Helped a Farming Couple Improve Their Working Capital.

Multi-generational farming goes beyond just a job into a way of life full of rich history that is passed down from one generation to the next. Many of these family farmers feel a responsibility to build on the legacy of their predecessors and set future generations up with a secure financial structure.

The Challenge

One such family in North Carolina had been harvesting tobacco, corn, and soybeans on their family farm through eight generations. The couple currently operating the farm wanted to solidify its financial position for when the time came to pass the reins over to their son. They analyzed their finances and searched for ways to boost working capital through refinancing multiple existing loan notes.

The Solution

AgAmerica was able to consolidate their existing real estate and chattel debts into a singular $463K loan package. Through our accelerated program, we expedited the approval process with minimal documentation required in less than two months after initially contacting AgAmerica. This fast and flexible reconstruction of existing debt provided them with lower payments made annually, increasing cash flow for their operation. Proactively taking steps to prepare their financial foundation, this couple reduced the financial load that will pass to their son and set the future of their family farm up for success.

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