Posts Tagged: farming

Succession planning: Keeping the farm in the family

A family by a white fence waving to a farmer in the field

  Farming is very much a family occupation. Numbers from United States Department of Agriculture clearly demonstrate that. But with all the hard work that goes into farming we might not stop to take the time to be thankful for the privilege of working side-by-side with our family. No doubt, some days are tough, but… Read more »

Common hurdles to success in succession planning

Three generations of farmers gathered around farm equipment

  Succession planning is something most farmers and ranchers know they ought to do to protect the agricultural operations they’ve built and to provide for their families. Unfortunately, it’s also a topic rife with emotion and that requires sometimes awkward conversations, so it’s often postponed. Below are five common reasons why a farmer or rancher… Read more »

Debt structuring and loan terms

Two large grains bins

  When it comes time for you to borrow money to support your agricultural operation, there are many considerations in determining what type of loan you need. As a borrower you should consider and discuss with your lender: The purpose of the loan Your philosophy regarding debt How the loan fits your business plan and… Read more »

What to expect when applying for a loan

A farmer and lending shaking hands

  Agriculture is a capital-intensive business, and for most operators, especially new farmers and ranchers or those looking to undertake a significant expansion, meeting these financial needs means applying for a loan. Applying for a first loan can be intimidating, but with adequate preparation you and your lender can determine the feasibility of your loan… Read more »

Animal welfare: Join the conversation

A herd of brown beef cows

  At a time when animal welfare may be on the minds of U.S. consumers more than ever, fewer Americans have any personal connection to the land. In 1980, the U.S. had over 6 million active farmers, representing 3.4 percent of the nation’s labor force. Just 10 years later, the number of active farmers dropped… Read more »