News

Lenders help customers prepare for challenging year

Many ag lenders have been working with their farmer-customers this winter to put them in a better position to withstand the latest downturn in the ag economy.

Bob Campbell, a senior vice president with Omaha-based Farm Credit Services of America, says they have been helping customers analyze financial statements and restructure debt to improve cash flow.

“Right now, we’re focusing on helping them figure out, on a fixed cost basis, are there things we can be doing with you that lower, for instance, your principal and interest payments per acre,” Campbell says. “How do we increase your cash flow and give you more cash flow so that we can get through these times where the production costs haven’t quite aligned yet with the realities of the market.

“We’re just trying to buy time and let things settle down.”

Campbell leads the FCSAmerica teams that work with customers in Nebraska and Wyoming.

AUDIO: Bob Campbell

Photo courtesy Iowa State University