By Andi Anderson
As farmers evaluate their financial situation this winter, Iowa State University Extension and Outreach offers a valuable resource: The Farm Financial Planning Program. This program is designed to help farmers understand their financial position, enhancing decision-making for profitability and cash flow improvement.
The heart of this program lies in its personalized approach. It features in-person financial experts who provide one-on-one counseling. These specialists use the advanced FINPACK software to conduct a detailed analysis of the farm business. This approach not only aids farmers in making informed decisions but is also becoming increasingly important for lenders evaluating credit applications.
Leslie Miller, a veteran in the ag lending industry since the 1980s, joined the team in 2021. She assists farmers with financial analysis and goal setting, focusing on scenarios like fluctuating crop prices and rising land costs. Miller also helps farmers explore options like ownership transitions or expansions in the swine industry.
The program's service is complimentary for clients. While the associates provide a comprehensive overview of the farm's financial health, the onus remains on the farmer to implement changes and engage with recommended specialists.
Farmers can find associates for the Farm Financial Planning Program by contacting there ISU Extension and Outreach county office . This initiative aids in sustainable and profitable farming operations by providing tools and expertise in agricultural finance.
Photo Credit: iowa-state-university
Categories: Iowa, Education