What’s your 2021 credit strategy?


What’s your 2021 credit strategy?

An ag lender says this year a question a lot of bankers will be asking is how a farmer has used federal support dollars.

“Did you paydown and reduce debt?  Did you go out and buy an asset?  Making sure you have a return on that asset that you purchased so you can pay that debt down the road is fundamental to that financing.”

Marisa Bramer with Rabo Agri Finance says that answer should align with a farmer’s financial plan.

“That game plan should focus on your operation, your financing, and your investing activities,” she says.

Bramer spoke on fundamentals lenders look for before approving additional credit at the recent Michigan Agri-Business Association’s virtual winter conference.

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