Summary
The Center for Farm Financial Management (CFFM), home of FINPACK, 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, FairRent, helping farmers evaluate land rental decisions, CropCost, assisting producers in determining their costs of production, and My Market Profit, a new tool that helps producers identify the costs, returns, and profits for each market in five easy steps.
CropCost identifies the cost of production for each crop the producer grows and gives breakeven costs of production at varying yield and expense amounts.
Farmers are often looking to grow, expand, or enhance their businesses, especially in times of economic uncertainty, when diversification may help generate additional revenue. As a lender, you can help your customers initiate, execute, and complete a business plan using AgPlan.
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.
For some producers, a market channel analysis, where the profitability of each market is determined, may be the best tool to make informed decisions and determine the profitability of the segments of their operation. My Market Profit helps producers analyze the profitability of the market channels they sell to.
Connect with FINPACK
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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.