Preparing for the Meeting With the Lender

Volatility became the norm for dairy farmers this past year. During the Minnesota Milk Minne-Series, ag business and financial consultant Gary Siporski stressed the need for communication with the lender. Preparation is important for those meetings. “If you’ve done your balance sheet; you’ve done your accrual adjustments on your cash income statement; you’ve done your projections and you have a business plan, you’ll knock your lender off their chair because they’re not used to seeing that stuff.” Siporski said all lenders want to help their clients do the right things and be profitable.