As the seasons change and we wrap up another year in agriculture, now is the time to start thinking about renewing your ag operating loans. Ag operating loans are crucial for maintaining your operation's financial health. Whether purchasing seed, chemical, fertilizer or feed, these loans are designed to empower you to make the most of your resources.
Here are a few tips as you prepare for renewal season:
- Review Financials: Ensure your financial statements are accurate and provide a year-end balance sheet.
- Update Records: Keep current production records, expenses, and crop yields.
- Assess Funding Needs: Determine the specific sales and expenses you require for the upcoming season.
- Develop an Annual Budget: Create a detailed budget, including all costs.
Strengthen Lender Relationships: Ensure regular communication with your lender. They are here to help you!
At Town & Country, we understand the specific challenges and opportunities that come with farming, and we're here to support you every step of the way. Founded in 1939, we are the country's third-largest NCUA-insured agriculture lender. We are proud of our team of local experts who understand that each farming operation is unique, enabling them to tailor solutions that best fit our borrowers. We make decisions locally, quickly and efficiently, ensuring farmers receive the support they need.
By choosing Town & Country for your agriculture needs, you're not just securing financing but joining a community dedicated to supporting local farmers. Contact one of our local lenders today to schedule an appointment and experience the Town & Country differences.
