What do Farmers Want From Their Lender? Pt 2
From Ag Lender Magazine - As to the decision most farmers use in choosing a lender/financial services provide, 58 percent of the producers make the choice individually with little input from others, and another 26 percent make the choice after extensive discussion with others in the business (see Figure 4). Producers are more likely to make decisions on their own for financial products and seed and animal health, than for crop protection/feed and capital equipment. Larger farmers and producers of under 25 years of age are less likely to make decisions on their own. The decision process is consistent among the different growth producers. However, there is less consistency among enterprises and buying segments: cotton producers and the convenience buying segment are more likely to make the choice of a lender by themselves.