AgSunrise: Enhanced Young and Beginning Farmer Program
Over the past year, Farm Credit Southeast Missouri has taken a more thorough look to see how we can better serve our young and beginning farmers. The result of this is our new and improved AgSunrise program.
Those qualifying as an AgSunrise customer must either be:
- 40 years old or younger OR
- a beginning farmer/producer with 10 years or less farming experience
Farm Credit knows the challenges of entering the agriculture industry so we have developed flexible loan limits and educational opportunities to assist our customers. Flexible loan limits help put our AgSunrise customers on the path to success and may include:
- no minimum net worth or working capital requirements
- breakeven cash flow projections
- up to 85% loan to appraised value on real estate and up to 100% loan to appraised value on commercial loans
- up to 7 year term on equipment loans
- interest only first year payments on equipment and real estate loans
- waiver of appraisal fees on real estate loans
AgSunrise customers can receive a 1% interest rate discount on their Operating Loan, up to $350,000, upon completion of the Farm Credit University’s AgBizBasic’s online 4 module program. This program is an educational tool that is designed to help balance the passion of farming with the economic and financial side of running a business.
Local educational seminars will be offered at least annually. In January 2019, we had a great turnout at our AgSunrise seminar in Sikeston and we are looking forward to our next seminars that are scheduled in 2020. On February 13th in Sikeston and on February 14th in Holcomb, Dr. March Welch from Texas A&M will discuss marketing tools and strategies. He will take each participant through a marketing simulation that is designed to help show them how to market their crop through various price and weather environments.
Within our enhanced AgSunrise program, Farm Credit will continue to offer support to our local FFA chapters and college agricultural departments through sponsorship funding. We are excited to be offering a new addition to the AgSunrise program beginning in the spring of 2020 - we will be granting ten $1,000 scholarships to students seeking Agriculture Degrees.
These are the highlights of our enhanced AgSunrise program. We know young and beginning farmers are the future of agriculture. Farm Credit is committing resources with the goal of helping their operation grow successfully long-term as well as deepening relationships with our customer-owners.
“We are excited to be offering a new addition to the AgSunrise program beginning in the spring of 2020; We will be granting ten $1,000 scholarships to students seeking Agriculture Degrees. “
Headquartered in Sikeston, Missouri, Farm Credit Southeast Missouri is a $700 million agricultural lending cooperative serving Bollinger, Butler, Carter, Cape Girardeau, Dunklin, Mississippi, New Madrid, Pemiscot, Ripley, Scott, Stoddard, and Wayne Counties in Southeast Missouri.