Farmers Secure 2025 Financing Despite Economic Challenges

Despite financial pressures, most farmers are securing financing for the 2025 season, according to Northland Community and Technical College Farm Business Management instructor Ron Dvergsten. “I have been pleasantly surprised that the farms I work with, I have not heard from any of them that they will not be able to get financing for the ’25 year.” However, he noted that many lenders have had to reschedule loans due to lost working capital from lower market prices and investments in land or machinery. High land values and rental rates remain a concern, especially with declining commodity prices. “I have heard that some farmers approaching retirement have decided to either rent their land out or downsize, just to take a little bit of the risk off their table and retain the equity that they have previously built up.”