Improving Lending Chances & Truths about Alternative Lending

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The Impact on Borrowing Position and How to Improve It

By 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,” says Doug Claussen of K·Coe Isom. He advises that understanding the key elements used by lenders – with special attention given to loan covenants and loan consolidations – can bolster your loan chances.

Understanding Loan Covenants and Consolidation to Impact Renewals

Better communication and negotiation with your lender is critical. For more insight on understanding loan covenants and the impact of loan consolidation to improve your borrowing position, click here to read the High Plains Journal column on Managing for Success.

Alternative Lending is Trending, but is it a Good Fit?

As fewer producers are expected to be able to meet traditional lending standards, we expect to see more distressed businesses seeking out alternative options. If you’re considering working with an alternative lender, Peter Martin of K·Coe Isom advises on the key points surrounding alternative lending in Farm Journal’s article: Gear Up for Alternative Lending.

Contact a K·Coe Isom expert for help with preparing for the process, strengthening your borrowing position, or for information on alternative lending avenues.

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