Listen to podcast interview below with Jackie Martinie on Debt Restructuring, originally aired by Brownfield Ag News of America, Farm Credit Insider
Farmers use their balancing skills every day – whether they’re climbing vertical ladders to close the top of the grain bin or wiping soybean dust off the combine windshield. While this dexterity is helpful while working outside, farmers must also be flexible in the office as they search for the financial balance necessary for business success.
As some farm families find themselves with depleted working capital, they may consider restructuring debt to increase liquidity. But before approaching a farm lender, they must recognize any underlying issues that got them off-center and create an action plan so restructuring doesn’t cause the farm further financial stress.
When evaluating the farm’s financial statement before restructuring debt, farmers should consider these tactics on their path to finding operational balance. [Read more…]