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3 Ways the 10-Year Line of Credit Helps Strawberry Growers with Costs of Production


Florida is second in the U.S. for commercial strawberry production and has a farm-gate value of approximately $300 million (USDA 2015). What most people don’t know— and what every Florida strawberry grower knows all too well— is that this commodity is one of the costliest to grow in Florida. For example, in a 2017 UF/IFAS EDIS publication, three researchers outlined the costs of production in 2012/13 and estimated the total production cost per acre to be $29,069 – up about 27% from the 2008/09 harvest year.

To remain competitive and a viable agribusiness, Florida strawberry growers have sought solutions to help with the rising costs of production – and our industry unique 10-year interest-only line of credit is a great solution for many growers. Here are three ways the 10-year line of credit helps strawberry growers combat rising costs of production.

  1. Funds to be used for any agribusiness purpose with unlimited cash draws. What differentiates AgAmerica from other lenders, is that we won’t decide how to use your money. Whether you need funds to repair sprayers or drip irrigation systems, to manage the rising cost of labor, or to help streamline strawberry farm operations – our 10-year interest-only line of credit can offer an immediate solution with a selection of repayment options.
  2. No mandatory pay-downs or rest periods. Unlike other lenders, our 10-year line of credit allows growers to run their agribusiness however they’d like, without being weighed down by deadlines to pay down their line of credit. Florida strawberry growers have the flexibility they need to run their production.
  3. No prepayment penalties or annual paperwork renewals. We understand that as a grower, you might have the funds in any given month and want to pay it all off right away. Growers should never be penalized for paying a loan off early. Additionally, once you qualify, you are set for the next ten years – no need for standard annual renewals or fear of higher interest rates.

For questions or to learn more about AgAmerica’s 10-year interest-only line of credit or other agribusiness financing needs, contact us at 844-238-5312.

This column is sponsored by AgAmerica Lending, and the opinions expressed herein may not reflect those of CFAN or of its advertisers.

Patrick Spinosa, a Relationship Manager for AgAmerica Lending, grew up on a fifth-generation Florida citrus and cattle operation. He believes that experience and knowledge are invaluable as he helps secure the financial future of our nation’s farmers and ranchers. For more information about Patrick and the AgAmerica team, call 844-238-5312 or visit AgAmerica.com.