Cash Flow Concerns w/Art Lange

26m · Impact Farming · 15 Nov 16:00

In this week’s episode, Tracy speaks with Art Lange about “Cash Flow Concerns.”

As a business owner, cash flow planning is one of the most critical financial planning activities.

In this episode:

Art shares his thoughts on how 2024 cash flow planning might be extra challenging.
They chat about upcoming CEBA loan payments and what this means to farmers and their 2024 cash flow.
Art reviews the CEBA loan amounts, forgiveness portions, and when payments are due.
With loans due in January, farmers must come up with the money. He shares a few options for repaying these loans if the money is not in the bank.
Second, on Art’s radar is the increased cost of borrowing. He speaks about interest rates and how this is impacting farmers.
We know interest rates make a huge difference. Art reviews an example of $1 million over 25 years at 4% or 7% and the difference in payments. The difference truly is staggering.
They dive deeper into the discussion on interest rates for farmers who are looking at new loans or who have renewals coming up. He speaks to high interest and cash flow concerns.
Art has a tool to help producers with financial planning. He shares the details.

If CEBA loans or interest rates are on your mind, you won’t want to miss this episode.

...............................

Show Resources

www.AJLConsulting.com

The episode Cash Flow Concerns w/Art Lange from the podcast Impact Farming has a duration of 26:15. It was first published 15 Nov 16:00. The cover art and the content belong to their respective owners.

Permalink

More episodes from Impact Farming

Episode 229: The Recovering Farmer: A Journey through the Labyrinth of Anxiety and Depression

In this week’s episode, Tracy speaks to Gerry Friesen about his new book titled “The Recovering Farmer: A Journey through the Labyrinth of Anxiety and Depression.”

Mental health in agriculture is one of the most critical conversations in our industry, and in today’s episode, Tracy and Gerry speak about:

Gerry’s personal mental health journey.
How and why, he got started sharing this very personal story.
Gerry shares the exciting announcement that his new book titled “The Recovering Farmer: A Journey through the Labyrinth of Anxiety and Depression” has been published and is now available for purchase.
Tracy asks Gerry about his mission and vision behind the book and what readers can expect when they dive into the pages of his very personal journey of mental health and farming.
Gerry shares some words of wisdom to those that are struggling.
If you are interested in mental health and looking for a book that will impact you, please grab yourself a copy of Gerry’s book.

About The Book:

“The Recovering Farmer: A Journey through the Labyrinth of Anxiety and Depression”

Gerry Friesen, AKA The Recovering Farmer, chronicles his journey through anxiety, depression, and addiction to a place of improved mental health—and even, sometimes, happiness.

Mental health, or lack thereof, has become a major topic in agricultural communities around the world. There is still a strong stigma attached to conversations around mental health, and an attitude that to admit you need help is a shameful thing. This book aims to challenge those attitudes. It explores the aspects of Gerry’s life as a farmer that contributed to his mental health, both positive and negative, and contains concrete tools for others to maintain and build their mental wellness.

Surprisingly upbeat and admirably honest, The Recovering Farmer is a memoir, but it is also a powerful recovery tool for those struggling with mental health. It reminds us that it’s okay not to be okay, and that there is no shame in reaching out for help.

***********

RESOURCES

Buy Gerry’s Book -https://www.gerryfriesen.ca

***********

SIGN UP

If you enjoyed this episode, don’t forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

Episode 228 - CCGA Cash Advance Program: The Financial Tool Farmers Are Looking For with Dave Gallant

In this week’s episode, Tracy speaks to Dave Gallant from the Canadian Canola Growers Association about the “CCGA Cash Advance Program: The Financial Tool Farmers Are Looking For.”

Are you concerned about the current elevated interest rates?

If so, you will not want to miss this episode, in which Tracy speaks to Dave Gallant about a powerful borrowing tool for Canadian farmers.
In this episode, they discuss:

Who is the Canadian Canola Growers Association and what does it do? Did you know that in addition to policy development and advocating for Canola Growers, the association is also the largest and most experienced Advance Payments Program administrator in Canada and strives to make the program as convenient as possible?
Dave shares that the Advance Payments Program is a federal program administered by the Canadian Canola Growers Association. It offers Canadian farmers marketing flexibility through interest-free and low-interest cash advances.
Tracy asks Dave how the CCGA Cash Advance Program terms compare to traditional banks. Interest-free loans? Yes. CCGA is offering up to $250,000* interest-free for all eligible commodities and the interest-bearing portion at prime rate less 0.25%.
Tracy and Dave speak about how this program is a fantastic tool for young farmers because no extra collateral/security is needed to borrow. It makes financing more accessible for those starting out and helps them build up a credit borrowing history.
Did you know that the CCGA Cash Advance program covers 50 eligible commodities, including all major field crops and livestock, as well as organic crops and cattle.
Tracy asks Dave when farmers can apply. Is it once a year, or can farmers apply at different times throughout the year? Do crops need to be seeded, and calves need to be born to apply? Dave shares all the details with our audience.
In addition to the unbeatable financial terms, Dave shares how the cash advance is really a powerful marketing tool for farmers. It allows farmers to sell when they want to, not when they need to for cash flow purposes.
One thing Dave notes for our audience is that while this program is National across Canada, CCGA only lends to certain provinces. He shares those provinces, and for farmers outside these provinces, he gives details on where farmers can find other institutions that lend to their province.
Dave gives a final call to action, details on the application process, and where and how farmers can apply.

Are you interested in learning more about the CCGA Cash Advance Program? If so, you will want to tune into this episode and visit their website below.

***********

RESOURCES

CCGA Cash Advance Program

First-time customers, be sure to check us out online:www.ccga.com/cash

***********

SIGN UP

Episode 227 - 20/20 Seed Labs & Celebrating 35 Years In Business

In this week’s episode, Tracy speaks to Sarah Foster from 20/20 Seed Labs about “20/20 Seed Labs & Celebrating 35 Years In Business.”

In this episode, Tracy and Sarah discuss:

Sarah’s background, her immigration to Canada, and why she decided to launch 20/20 Seed Labs.
Sarah shares more about 20/20 Seed Labs including who they are, what they do, and who their core customers are.
They then delve into the unique aspects of Sarah’s entrepreneurial journey, including the biggest challenges, best things, and most surprising things about starting a business.
20/20 Seed Labs is on the brink of a significant milestone-35 years in business, a remarkable achievement. Tracy asks Sarah, “What are you personally most proud of as you reflect on these 35 years of business?”
Looking forward, Tracy asks Sarah what she sees as the biggest opportunities and challenges for her company and the agriculture industry as a whole.
Sarah discusses the crucial role of seed testing in the context of feeding a growing population, adapting crops to changing climates, and the future of agriculture.
In true entrepreneurial style, Sarah shares some words of wisdom with other business owners and aspiring business owners.

If you are curious about seed testing and love a great entrepreneurial story, you should tune into this episode.

Thanks for tuning in,

Tracy

***********

RESOURCES

Excellence in Accredited Seed Testing Services

Learn More

***********

Episode 226 - AG Direct Hail - A BIG Break for Canadian Farmers

In this week’s episode, Tracy speaks to Bruce Lowe and Baillie Shewkenek, from AG Direct Hail.

Are you in the market for hail insurance?

If so, you will not want to miss this episode, in which Tracy, Bruce, and Baillie discuss the AG Direct Hail difference and an exciting announcement for prairie farmers in 2024.

They discuss:

How is AG Direct Hail Insurance different from the competition? Hint: They are exclusively online and direct and have cut the middleman out of the premiums farmers pay. They also pride themselves on their service.
Bruce explains that AG Direct Hail Insurance Ltd. does not use brokers or agents. Instead, everything is done online. You can register, check their rates, obtain a non-obligation quote, and apply for coverage all online at your convenience.
Bruce opens the episode by sharing their great news for prairie farmers in 2024. You won’t want to miss this. This is a welcomed announcement for prairie farmers during a time of constant rate hikes.
But it’s not all about price. Settling claims and the adjustment process are important to farmers and the team at AG Direct Hail.
So, what happens when a producer realizes there is hail damage? Baillie walks us through the process, from creating a claim to the adjustment process and claim payout.
They share more about their adjusters and their vast experience.
Bruce shares how their seasoned adjusters are passionate about loss adjusting and are singularly focused on calculating a loss award that accurately reflects a farmer’s loss.

If you are in the market for hail insurance this year, I highly recommend you tune into today’s episode.

Thanks for tuning in,

Tracy

***********

RESOURCES

Visit our website www.AGDirectHail.comto learn more.

***********

Episode 225: American Agri-Women Association with Rose Tryon

In this week’s episode, Tracy speaks to Rose Tryon from American Agri-Women Association.

American Agri-Women is the largest national coalition of farm, ranch, & agribusiness women.

AAW members have been advocating for agriculture since 1974.

Join our diverse group of women from across the country who are committed to advocating for agriculture. Our members are farmers, ranchers, producers, other agriculture business professionals, educators, consumers, students, researchers, and many others — how about you?

In this episode, Tracy and Rose speak about:

The American Agri-Women Association. Who they are, what they do, how they serve the agriculture industry, and why members love this organization.
They chat about the chapters, annual events and how the organization operates.
Rose and AAW members are incredibly excited about June’s flying event. Each year in June, American Agri-Women hosts a Legislative Fly-In for those interested in speaking to their legislators, agencies, and other professionals in Washington D.C. about current agricultural issues and policies while relying upon your own opinions and the AAW Position Statements. We also explore the city and its major historical sites.
For 2024, they are excited that for the first time ever it is being opened up to all women involved in ag and natural resources, in a massive effort to unite as one voice in the nation's capital!

Are you ready to unite with women across the country who care about agriculture just like you?

Listen to this week’s event to learn more.

***********

RESOURCES

American Agri-Women Association -https://www.americanagriwomen.org

2024 American Agri-Women Fly-In:
Uniting Women Across the Ag & Natural Resource Industries
June 2 - 4, 2024
Washington, DC
https://www.americanagriwomen.org/events

***********

Every Podcast » Impact Farming » Cash Flow Concerns w/Art Lange