Register for the FINPACK Lenders Conference, helping your customers evaluate land rental decisions, a new cover crop report, how to approach credit analysis in FINPACK, using the FSA Forms package in FINPACK & more in the October News Digest!
Register now for the FINPACK Lenders Conference Dec 11-12, 2024 at the Radisson Blu Mall of America. Get the latest updates in Ag & Commercial lending from our outstanding lineup of speakers, including Dave Kohl, Sam Miller, Brad Stevens, Ed Usset and more.
Many of your Ag borrowers rent some or all of the land they farm, and arriving at an affordable rental rate can be challenging, especially given the rising input costs and lower prices received for crops. One resource you can share with farmers to help them determine a fair rental rate is FairRent.
The Center for Farm Financial Management at the University of Minnesota — including FINPACK team members Pauline Van Nurden, Katherine Wilts Johnson, and Mariah Beverly — have collaborated with Mai Lan Hoang and Vincent Gauthier at Environmental Defense Fund (EDF) to produce The Economics of Cover Crops on Minnesota and Wisconsin Farms 2023 Data Report.
FINPACK offers a wealth of tools and functionality, and it can be hard to know where to start. Our step-by-step guide offers a broad overview of the tools and the best way to approach credit analysis in FINPACK. You’ll find links throughout to more detailed guides for each section as well as our white paper in the FINPACK Knowledge Base.
The FINPACK FSA Forms Package allows you to generate the required forms for an FSA Guaranteed or Direct Loan. As a lender, you begin by creating the cash flow projection including the loan(s) you are requesting an FSA Guaranteed Loan for. A monthly or annual cash flow projection (FINFLO) can be completed and utilized for the guaranteed loan request.
In Case You Missed it
FairRent is not the only resource your customers might find helpful. CFFM has an entire suite of educational resources to assist farmers in improving their business management and marketing abilities including AgPlan, a free online business planning software, developed in 2008 and since used to initiate over 100,000 business plans.
We are often asked for guidance in developing and interpreting financial statements for farmers and ranchers. To help with this, we created the Developing & Interpreting Your Financial Statements and Measures site, a hub for producers looking to improve their financial management skills. This free resource consists of two online courses which give producers information needed to become better financial managers of their business.
Connect with FINPACK
Don’t forget to follow FINPACK on Facebook, Twitter, and Instagram, or connect with us on LinkedIn, and be sure to subscribe to FINPACK News email updates. If you have any questions about the resources described above, please contact us and we would be happy to assist!
David Maguire helps Ag and Commercial lenders across the country understand the value of using FINPACK for credit analysis and loan management. David has worked in the marketing, training and education fields in Minnesota, Ireland and Germany.