The Alabama Cooperative Extension System is offering workshops throughout the state in December through February. These workshops will help farmers determine their financial health and learn how lenders analyze credit applications.
Financial Analysis Workshops
Ag lending is a key business line for many banks, especially those in rural areas. Lending in the agricultural market involves seasonal funding, generally repaid after harvest. If a renewal is hanging in the balance, Extension professionals want to help producers understand the importance of conducting a financial analysis.
Alabama Extension’s Farm and Agribusiness Management Team will conduct a series of workshops titled, “How Does a Lender Determine Whether to Renew My Line of Credit?” developed by Extension specialist Dr. Robert Tufts.
“The purpose of the program is to reinforce the importance of records so a farmer can determine his financial health, and to show the value of automated recordkeeping. It is hard to pull a balance sheet out of a box of receipts,” Tufts said.
Extension personnel will discuss financial statements and the ratios calculated from that data. The ratios are then used to measure the financial health of the farmer.
In addition, credit analysts from First South Farm Credit, Alabama Ag Credit, Alabama Farm Credit, and PNC Bank will speak at each program. These lenders will also discuss the inner workings of the agricultural credit approval process and answer questions.
Dec. 11 Dallas County
Jan. 9 Lauderdale County
Jan. 10 Limestone County
Jan. 15 Escambia County
Jan. 17 Talladega County
Jan. 18 DeKalb County
Jan. 23 Henry County
Jan. 24 Macon County
Jan. 30 Chilton County
Feb. 1 Baldwin County
Feb. 13 Coffee County
Feb. 26 Marion County
Feb. 27 Tuscaloosa County
For a workshop agenda, location addresses or to register, visit the workshop website at www.aces.edu/lender.
Image by shutterstock.com/avilon.