I try to come at all my articles, posts, ramblings, or whatever you would like to call them from multiple viewpoints. I attempt to capture the farmer, the business owner, the banker, the consultant, and probably the therapist’s points of view. So, today I will be starting off with the banker’s point of view on today's topic of operating lines. If … [Read more...]
When should you think about your debt structure?
I have had a few farmers reach out to me recently telling me they would either like to try to simplify their debt situation or move a portion or all of their debt relationship. The question is usually phrased as "I know it's too late for this year, but when should I start looking at restructuring for next year?" The answer is NOW. It is never … [Read more...]
Interest Rates
I feel like there was some confusion during renewal season this year. One portion of that confusion stemmed from rates changing. You may have showed up to sign your LOC renewal to find that your effective rate would be 6%+. Prime plus .5-1.50 is the range most people are falling in. I know you are thinking - "Ashley, that's a heck of a range." … [Read more...]
Line of Credit Renewals are Approaching. This is NOT a Drill!
Well y’all here we are again! 2018 just flew by, I mean I feel like just yesterday I was buying leftover Valentine’s candy and today I am buying leftover Halloween candy. Every year buying that candy and planning for turkey day reminds me – it’s time to remind all of you to start planning for next year. YES start already. Because - why not? Get … [Read more...]
Wassup With Debt?
Debt has been a hot topic across the Ag community recently and not really because it has been good news. Credit conditions are tightening. Some producers have had back to back loss years and some are fighting to hit breakeven. Needless to say the definition I always refer to for a farmer is now ringing more true than ever – “Land Rich and Cash … [Read more...]
Can I Interest You in a Conversation About Debt?
It is about time to start thinking about debt again folks. Well, you never really quit thinking about debt, but it is the time of the year you have to address it and give it a little extra attention. We all know how things are looking out there. Prices are down and some areas have also been hit hard with disease or weather events. It is hard … [Read more...]
So much advice for 2016, what is actually working so far?
The topic that was trending more than any other from the end of 2015 to the first quarter of 2016 was definitely "How to make it through 2016." With depressed commodity prices and higher debt loads many were left scratching their heads on how to pull together a plan to make ends meet. Well, out of all of the advice that was given I am going to … [Read more...]
Why All The Fuss About Peanuts?
While reading your daily Ag news outlet of choice, you probably won’t see near as many stories about peanuts as you do about corn, soybeans, wheat, and cattle. Well don’t fret because you are about to get the down low on peanuts. Peanuts can be found throughout the U.S., but they are one of the most predominant crops found in the South. Now let’s … [Read more...]
5 Steps Beyond Your Basic Financial Plan at Tomorrow’s Top Producer
I am very excited to be a part of Tomorrow's Top Producer Conference this year. This is their first 2 day conference for Next Generation Farmers. As someone who devotes a lot of time working with the young farm generation, I couldn't be happier to be a part of the event. The conference could not be at a better location either, … [Read more...]
You made a plan for the year, now what?
So, you sat down and made this amazing plan at the beginning of the year. Right?! You projected your income, set a budget, updated your financial statement, and ran some possible scenarios. Well, now that the crop year has begun are you following the plan? Is there a reason why you can’t? Has something changed? Why go to all the … [Read more...]
