Will Credit Tighten for Farmers?

According to many economists it will. This article posted on the WLBT website states that while farmers felt little credit pain in 2008, planting time in 2009 may be an issue.

David Schweikhardt with Michigan State University says that even farmers with good credit may have difficulty. Why? According to Schweikhardt, lenders will likely raise their lending standards and ask many more questions.

John Anderson with the Mississippi State University Extension Service has some great advice: "Be prepared with a plan when you go to the bank. Have all your financial statements up-to-date and in order, and have as specific a plan as possible to demonstrate how the loan will be repaid..."

There is another good article about the possible agricultural credit crunch here, at South East Farm Press.