In times of tough cash flow, Northland Community and Technical College Farm Business Management Instructor Betsy Jensen tells farmers not to pre-pay debt. She says debt is part of a farming operation. “Farmers can restructure. They can take existing debt, lump it together and string it out over a few years. That’s not uncommon and not a bad thing to do,” says Jensen. “You don’t want to do it every year, but that can alleviate the cash crunch for 2019.” Jensen joined NDSU Extension Marketing Specialist Frayne Olson and Emerado farmer Shane Sand in a panel discussion on cash flow at the International Crop Expo.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.