The Impact on Borrowing Position and How to Improve It
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Reading Time: < 1 minutesBy now, people around the globe know it’s been a particularly tough year for U.S. agriculture. Don’t think for a second that your banker isn’t among them. Lenders have been vigilant in monitoring the eroding profit margins for many agribusinesses, and if you’re not trying to improve your borrowing position, you could very well be hurting your chances for loan renewals. K·Coe Isom is working with farmers and ranchers to help them understand the significant effects of borrowing conditions on businesses. “Now is the time to make sure your operation is in the strongest position it can be…before you begin the process of renewing your loan,” say the experts of K·Coe Isom. They advise that understanding the key elements used by lenders – with special attention given to loan covenants and loan consolidations – can bolster your loan chances.