Project Overview
Thru this project we assisted Nebraska producers, through workshops and individual consultations, in navigating current leaner economic conditions. We organized 4 workshops, 25 individual consultations, and covered a) reliable analysis of financial positions and forecasting cash flows, b) issues and risks in restructuring or refinancing debt and/or selling assets, including use of guaranteed loan programs, c) presented an operation to lenders (owning a balance sheet and cash flow; explaining an operation), d) transition plan in lean times (beginner farmer tax and loan programs to improve cash flows and debt service; leases and sales to beginners), e) negotiated third party leases, f) tools of last resort (sell downs, forbearance agreements, work outs and bankruptcy reorganizations; tax consequences), and g) resources for dealing with financial distress and its human consequences. Workshops and individual consultations were held around the state of Nebraska reaching 228 producers, and were conducted by an experienced financial counselor and an ag law attorney.
Outcomes included realistic and more efficient cash flows, restructuring of debt, refinancing of debt, reorganizations (including sell downs), negotiations of workable lease terms, and incorporating beginning farmer and rancher tax and credit programs into the family business as part both of transition planning and cash flow management.
Number of Participants: 228
PROMOTIONAL MATERIALS
There are no promotional materials available for this project.
EDUCATIONAL MATERIALS
There are no educational materials available for this project.
REPORTS & EVALUATIONS
There are no reports or evaluations available for this project.