After devastating hail storms, and the tornados in the Chapman and Manhattan, KS areas, Frontier Farm Credit's Manhattan Financial Services Officer Justin Frank visited several customers' farms. "Until you see it, you can't really appreciate what those storms did to crops, machinery and personal property. The only way to put it into perspective is to recognize there weren't many serious injuries or more lives lost in these places. But, for some, their outbuildings are gone and equipment is irreparable."
"Frontier Flexible Solution is one tool available to address current financial situations for customers," said Frank. "Our customers are so dedicated to their farms and ranches. We are working with them to put plans into place to get through this season and look toward financial needs for their operations long-term."
Frontier Farm Credit offers the Frontier Flexible Solution to give producers repayment relief needed due to weather-related crop failures. This will allow current customers to pay interest only and defer their principal payment until the end of the loan.
Bruce Thornton, Financial Services Officer, Parsons, said the weather has compounded some crop quality issues for some producers. “As spring went on, we saw delayed planting. With late spring and early summer rains, crops have been flooded out, and in some cases, never put into the ground. We empathize and are able to work with loans in good standing to relieve some pressure during a difficult time,” said Thornton.
“Producers need to be aware there are numerous options and they should visit with their loan officer if they have suffered from a major catastrophe,” added Frank.
This unique program is available to customers with mortgage loans and commercial term loans. To participate, customers need to contact their servicing officer before their next scheduled loan payment to learn more about eligibility requirements, obtain further information and enroll in the program.
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