OMAHA, Neb. (RFD-TV) — Farmers are facing very different financial circumstances, with some looking to expand while others struggle to stay in business.
Chad Gent, a farm credit advisor with Farm Credit Services of America, says lenders are working with producers based on their individual financial situations.
“Some are doing just fine and are looking at opportunities to expand and grow. We’re here to support that growth. We have other customers that are finding themselves – the market took a turn at a bad time after they had maybe done an expansion or didn’t have the liquidity or had more debt maybe than they should have had for a tighter environment. So we’re also working with those customers, with financial counselors to work through a more challenging environment and looking at how do they make changes to survive and stay in business and maintain their business.”
Gent says financial management, rather than the size of an operation, is a major factor in determining success in the current environment.
