It’s that time of year again, when you’re going to need information from your producers and ranchers as you work on getting those operating loans sorted out and annual reviews completed. In an ideal world, your customer would provide you with all of the detailed information you need. Since we do not live in an ideal world, FINPACK offers a number of tools to help in gathering that data, including data-input worksheets, and a software solution.
FINPACK Input Forms
The FINPACK Knowledge Base offers a range of input forms for data collection. From a Schedule F Analysis Additional Input Form through Balance Sheet Input forms and instructions; you’ll find a multitude of forms to download, print, share, or email. You can access the Knowledge Base here.
FINPACK Input Worksheets
Once you already have historical FINPACK information with a borrower, FINPACK gives you the option to generate an input worksheet which can be shared with your borrower for updating values for all the items listed on the most recent balance sheet.
From within the Balance Sheet, simply click on the ‘Print’ icon, select Input Worksheet Options, choose the items you want to be included, then generate a PDF to share with your borrower.
Importing Customer’s FINPACK Files
If your customer has their own FINPACK license or is working with a farm business management (FBM) instructor or other educator using FINPACK, then you can import the customer’s data directly into FINPACK. Whether via email or your preferred secure delivery method, the user can send you a FINPACK (.fpd) file. You can then import that into FINPACK or FINPACK+ directly. You can create a new credit analysis file for a customer, or choose to add that data to an existing file. In FINPACK, choose ‘File’ then ‘Import’, then select the file to import. In FINPACK+, click the ‘+’ sign under the Credit Analysis tab, and select the file you wish to use. You can find detailed steps for the complete process in the FINPACK Knowledge Base.
FINPACK Lite
FINPACK Lite is a free balance sheet-only version of FINPACK available to bank customers, which makes collecting balance sheets easier. As a Lender with FINPACK, you have the right to distribute FINPACK Lite to your customers. When borrowers download FINPACK Lite by typing z.umn.edu/FINPACKLite in their browser the program installation will launch automatically. Once installed, your customer can easily enter their balance sheet information. They can email their balance sheet file, or they can bring it to you on a flash drive to import. Letting your customers know about this FINPACK feature will save you both time.
Connect with FINPACK
Don’t forget to follow FINPACK on Facebook 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.