Success StoryFarm Financial Stress Materials
Farm Financial Stress Materials
Author: Kenneth Burdine
Planning Unit: Agr Economics
Major Program: Farm Management
Outcome: Long-Term Outcome
Agricultural producers continue to deal with challenges related to farm financial stress. The department of Agricultural Economics held feedback / discussion sessions with extension agents and agricultural lenders during fall and winter of 2018/2019. It was determined that a set of resources was needed for farmers as they consider their options during this time and for agents and lenders as they work through these options with their clientele. For this reason, the agricultural economics department developed a publication entitled, “Resources Available to Farmers Struggling with Farm Financial Stress”. The publication was sent directly to extension ANR agents, commodity organizations, and to major agricultural lending institutions. It was also shared through an Ag Communications press release, the Economic and Policy Update, and numerous social media outlets. Contributors included Jonathan Shepherd, Jordan Shockley, Todd Davis, Greg Halich, Alison Davis, Steve Isaacs, Jerry Pierce, Sarah Bowker, and Kenny Burdine.
Topics included:
- Financials statements and key financial performance measures
- FSA loan programs
- Tax implications from discontinuing an operation
- Bankruptcy and debt reorganization
- Transitioning to non-farm employment
- Managing stress and mental health
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