More farmers are finding it difficult to secure financing.
Minnesota West Community and Technical College Dean of Agriculture and Business Paul Lanoue says he recently worked with some young farmers turned away by traditional lenders.
“They’ve looked for banks, and the banks aren’t giving them choices. I had one (farmer) who was at 15 percent (interest), pretty much a credit card is what he was putting all his input costs on because he couldn’t attain it anywhere else.”
Lanoue, who also farms, tells Brownfield that is not feasible long-term.
Continue reading Farm financing becoming more elusive at Brownfield Ag News.
