When a growing orchard needs the right lender

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orchardWhen growers, farmers and ranchers look for service and product suppliers to help them achieve their business goals and dreams, they look for people who know the industry — people who know agriculture; people who know the land; people who know peaches, and citrus, and blueberries. When it comes to financing, they’ll find that kind of understanding and expertise with the providers at AgAmerica Lending.

The AgAmerica program, a division of Lakeland, Florida-based Land South Lending, offers low-interest land loans based on agricultural real estate in Florida, Georgia, South Carolina, and all across the United States.

“Our staff includes employees whose own family farming history stretches back generations,” says Bryce Philpot, the Sr. VP of Lending for AgAmerica. In addition, the owner-managers of Land South Group, AgAmerica Lending’s parent company, have their own experience with buying, selling, and managing agriculture land.

Historically the heart of the Florida citrus industry, Central Florida is seeing “a growing number of peach orchards right in our backyard,” Philpot notes.

In fact, Polk County, the home base for AgAmerica, is the Florida leader in the number of peach orchards. Out of an estimated 1,231 peach-growing acres in Florida in 2012 (up from just 234 acres in 2007), Polk had 459 acres tied to peaches, or 37 percent of the total.

“Many of our borrowers are diversifying their crops, moving from citrus into peaches and from citrus into pasture,” Philpot says. “In the age of citrus greening threatening the citrus harvest, investing in peaches helps future-proof their farm operations.”

AgAmerica loans cover all facets of farming — from smaller peach orchards and blueberry farms to vast citrus groves and cattle ranches. When it’s time to plant the next row crop, expand citrus groves, make a transition from citrus to peaches, plant timber or start buying more cattle, these loans are a great choice, Philpot says.

Why should experienced and potential peach growers look to AgAmerica for agricultural loans? Ethan Cooper, AgAmerica’s correspondent lender in Georgia, says the company’s 10-year, interest-only revolving line of credit is advantageous to peach producers for a number of reasons:

  • It’s an operating line that can be used for funding operations, purchases, or refinancing.
  • The interest rate currently is less than 3 percent.
  • There are no prepayment penalties.
  • No “resting period” is required.
  • There are no annual paperwork renewals.

“Once you’re approved with AgAmerica, you’re set for 10 years without the hassle of redoing paperwork every year,” Cooper says.

And, says Cameron Flowers, the AgAmerica correspondent lender in South Carolina, “Unlike other ag lenders, we can offer 25-year amortizations, which keep annual term payments low. This is especially important for farmers whose businesses fluctuate year to year.”

Reaching the AgAmerica correspondent lenders by e-mail is easy and convenient. Write to:

AgAmerica is a wholly owned subsidiary of Land South Group (landsouthgroup.com). For more information, including details about AgAmerica Lending programs, call 1-855-898-2265 or go online to agamerica.com.

This article is a paid advertisement sponsored by AgAmerica Lending.