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New loan program offers financing for crop inputs

by 5m Editor
1 September 2006, at 1:48pm

US - A new lending program between Farm Credit Services of America, the largest provider of agricultural credit in the Midwest, and the farm supply cooperative FC of Farnhamville will offer farmers financing on crop inputs.

The companies said the move should help farmers get competitive interest rates as they deal with rising prices for fertilizer and other crop production supplies.

Jim Knuth, senior vice president of Omaha-based FCSAmerica, said the arrangement is the first of its kind in crop input financing.

"Those business models are becoming increasingly common at auto dealerships and farm implement businesses," Knuth said.

The program will give FC's co-op customers financing options for seed, feed and crop chemical products they purchase at FC. FCSAmerica will handle the financing.

Source: Des Moines Register

5m Editor