Refinancing for Interest
Land O’Lakes Finance Co. provided cattle and crop operating financing to a midwestern couple for nearly 30 years, while the couple utilized other lenders for their long term real estate financing needs. The operation consists of row crop, brood cow, and feedlot operation. When interest rates were near the bottom of the market, Land O’Lakes Finance Co. wanted to help in the best way possible – by lowering their interest rates and consolidating debts. We provided a new long term financing package to our borrower; he was not otherwise aware the current rate environment had dropped that low.
The financing package was almost perfectly timed and the debt consolidation allowed improved cash flow and reduced interest costs to our customer. A long-term rate was locked and the refinance followed soon after.