Real Estate Appraisals
What is an appraisal?
The act or process of developing an opinion of value.
The act or process of developing an opinion of value.
Financing at the Farm
What are the top things to look at when evaluating a business and looking to get a loan for expansion?
Bryan Hodges, a loan officer at First National Bank of Green Forest, in Green Forest, Ark., explained that there are many factors involved in determining if a person or a business should be qualified for a loan. “Depending on the type of request, business or individual, we still look very closely at the character of the individual or business. We take a look at their history in management of the farm or of their operations.” Other considerations include character, credit history, experience and whether or not they’ve had loans in the past and understand how the loan process works.
Some other factors Hodges said will be considered when evaluating a cattle operation include determining if the person has adequate means of repayment. “Something that’s very important is cash flow. What kind of margin do they have in their cash flow,” Hodges asked.
Bryan Hodges, a loan officer at First National Bank of Green Forest, in Green Forest, Ark., explained that there are many factors involved in determining if a person or a business should be qualified for a loan. “Depending on the type of request, business or individual, we still look very closely at the character of the individual or business. We take a look at their history in management of the farm or of their operations.” Other considerations include character, credit history, experience and whether or not they’ve had loans in the past and understand how the loan process works.
Some other factors Hodges said will be considered when evaluating a cattle operation include determining if the person has adequate means of repayment. “Something that’s very important is cash flow. What kind of margin do they have in their cash flow,” Hodges asked.
Record Keeping at the Farm
The first and most important step in taking control of your farm operation’s financial well-being is to keep good and accurate farm records.
Ag Law
Explain the importance of oral farm leases to farmers in Arkansas?
There’s about 14 million acres in farms in Arkansas, with a large portion of the farming population being over the age of 50. Many farmers and ranchers are not always comfortable with written documents and operate on a handshake. A large portion of Arkansas’s agricultural land is under an oral farmland lease.
There’s about 14 million acres in farms in Arkansas, with a large portion of the farming population being over the age of 50. Many farmers and ranchers are not always comfortable with written documents and operate on a handshake. A large portion of Arkansas’s agricultural land is under an oral farmland lease.
Farm Finance
For many of us, New Year’s resolutions are an annual tradition. And whether we resolve to replace the roof on that old barn or buy that new bush hog, our intentions are good. The challenge lies not in making the resolution but in following through. And though following through is easier said than done, it’s what makes a resolution become a reality. This is also true with our financial resolutions.
A Fashion of Farming
The Morgans have a long history of family and farming in the Ozarks. “Our family moved to Johnson County in 1857. We've been in the Mt. Olive community since 1876. I was raised on a farm and it didn't take me long to realize that if I wanted to keep farming that I would have to have a job to support it,” David Morgan said.