TOPEKA, Kan. (RFD-TV) — Borrowing capital is essential for farms, as it helps fund everything from inputs to land. While credit can come with some risks, there is a method to harvest success through credit without risking your farm’s bottom line.
RFD-TV Farm Legal and Tax Expert Roger McEowen with the Washburn School of Law joined us on Friday’s Market Day Report to explain the tactics of Low-Risk Credit Farming.
In his interview with RFD-TV News, McEowen explains the basics of low-risk credit farming and how understanding the farm credit landscape can help producers strike a good balance between risk and reward. He also discussed the difference between “good debt” and “bad debt,” and why business owners should be highly selective about the purpose of debt. Finally, he highlighted additional financial strategies for low-risk borrowing as well as the importance of finding a trusted advisor and maintaining a good relationship with your lender.
For McEowen’s in-depth look at Low-Risk Credit Farming, check out his Firm to Farm blog post on the topic by clicking the link below:
Firm to Farm: Low-Risk Credit Farming — Harvesting Success Without Sacrificing the Farm
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