Throughout the year, there are many consultants that go above and beyond “the call of duty,” to ensure that their clients are taken care of and succeed. Each year at our Annual Awards Banquet, the UGA SBDC names deserving consultants, “Flewellen Award Winners.” This recognition is named for Dr. William Flewellen, who is considered to […]
For many young farmers there is a deep desire to grow their farming operation, however, most are faced with the challenge of getting financing. Young farmers that are just getting into the business have not had time to build a lot of equity. Because of this, banks will consider the young farmer to be riskier compared to a seasoned farmer. One of the many variables banks will consider is how well the farmer can manage their working capital, and without a history of that from operations, it’s more difficult for a bank to determine the likelihood of repayment. Today, with low commodity prices and smaller margins between expense and revenue, young farmers are exposed to tough decisions and banks are tightening their internal lending policies. Despite this, there are still many opportunities for the young farmer.