Page 36 - CFAN_Mar2014

from pg 11
Texas 11.3
COMMON QUESTIONS CATTLE |
ABOUT RECEIVING Neb 6.3

AN AGAMERICA Kans 5.8

FARM LOAN, PART II
Cali 5.2

Okl 4.2
AS I CONTINUE to answer common questions
SDak 3.8
about our AgAmerica farm loans, this month I will go
into further details about the process, qualifications,
Iowa 3.8
and what they cover.
Missouri 3.6
How long does the loan process take?
Wisc 3.4
No loan, borrower, or collateral is the same, but if you
are up against a deadline, let us know upfront and we

can help you speed up the process! Depending on how
complicated the loan, funding usually takes around

60 days. This includes if an appraisal is needed and
if there are multiple borrowers and entities. If all of

financial information is ready to go and an appraisal

has already been performed, we have closed loans in
30 days.

How do loan payments work?

We offer flexible payment methods, including annual,
semi-annual, and monthly payment options.

What does my credit score need to be?

For our AgAmerica Lending program, we need a
minimum credit score of 680. We have some credit

repair options if a credit score happens to be a bit ALL CATTLE AND
CALVES in the United
below this. Or you can possibly add a co-borrower
to help with that.
States as of January
1, 2014 totaled 87.7
What do these loans cover?
CFAN: WHAT DO THE LOWER NUMBERS
million head, 2 percent MEAN FOR THE FLORIDA CATTLE
AgAmerica loans cover all facets of farming, from below the 89.3 million
smaller blueberry farms to vast cattle ranches. When INDUSTRY?
on January 1, 2013.
Quincey:
it’s time to plant your next row crop, expand your Florida is primarily a cow-calf state,
citrus groves, plant timber or start buying more and calf prices are really high at the moment.

cattle, these loans are a great choice. Also, if you
Those ranchers who are calf producers will
benefit greatly in the coming years. For the
wish to refinance your ag loan or are tired of
having to renew your loan once a year,
state as a whole, ranchers will be focusing on
increasing the herd; they will be retaining
CFAN: WILL THE CATTLE INDUSTRY GET
these loans are a solid option.
heifers to grow their herds as it’s much more BACK TO THE HIGH LEVELS OF THE LATE
This column is sponsored cost effective to raise a heifer than to buy one.
1990S?
by Bankers South Lending &
Finance.
Quincey: We won’t ever see those high
Carlisle: Many Florida producers are numbers again, but Florida needs to be back

responding to the market by expanding their in the 32 to 35 million head range to have a

herds or selling heifers as replacements, healthy herd.
rather than feeders, as female prices have Carlisle: Land availability has forced

by LEIGH ANN WYNN
experienced a rise. Producers are looking agriculture producers to produce more on less
at ways to expand their herds while taking land. U.S. farmers and ranchers have adopted

advantage of good market prices. As long technologies and management practices
as weather conditions are good for forage that improve efficiency, but urban pressure,
BIO: Leigh Ann Wynn is the Sr. VP of business development for
Bankers South. Adding mortgage loan originator to her title, production and the market remains favorable, government regulation, and increased input
Leigh Ann is actively working with the AgAmerica Lending Pro- Florida beef cattle producers will look to costs have, and will continue to be, a challenge.

gram by Bankers South, offering low interest ag loans. As an expand.
These challenges will only compound as
active member of the ag community and a seventh generation
Floridian, Leigh Ann understands your ag needs and is here to the global population grows and becomes
answer your questions. She can be reached at leighann@bank- more dependent on the western hemisphere

erssouth.com or (863) 607-9500.
(particularly the U.S.) to feed the world. ag

36 | CFAN
FloridaAgNews.com