Approaching a prospective lender can be intimidating if you’re a beginning farmer, but there are things you can do to make the loan process less stressful.
With all of the moving parts that go into producing a crop it is extremely important that farmers have a detailed budget in place as leaving out even one line item could have drastic consequences. Learn about where to start when preparing a budget.
Finding the right farmland involves more considerations than most capital expenditures, and can have a major effect on your profitability. Prepare to spend time researching various aspects of the land and evaluating its compatibility for your operation.
The success of your farm operation not only relies on good planning but also on strategic purchasing decisions. Here are three tips to take into consideration before making a purchase.
Whether you’re a beginning farmer or an experienced farm operator, having a good business plan is a crucial component for your operation. A business plan creates a clear road map in order to keep you on track for success
While the world was in the early stages of the COVID-19 health crisis and Americans were facing many challenges from the shutdowns, Matt McLean was busy trying to figure out an additional obstacle, the rare opportunity to buy back his beloved family business, Uncle Matt’s Organic.
It’s tough to think about the future when you’re worried about making mortgage payments or paying off equipment, but you don’t have to face bankruptcy or foreclosure if you take stock of your situation early on and talk openly with your lender.
Getting a loan for your agricultural business, no matter the size or scope, means asking the lender to have faith in your ability to manage a full-fledged operation and your finances in a healthy way. No pressure, right?
Farm Credit operates as a cooperative, which loosely defined means a group of people united to meet a common need through a jointly owned business. For Farm Credit, being a cooperative means our customers own us and are eligible to share in the profits each year.
