As the first signs of hay season approach, farmers are gearing up for one of the most crucial times of the year. While the weather and field conditions are top of mind, are your finances prepped and ready?  

As a well-seasoned farmer, you know it's crucial to ensure your equipment is in peak condition before the hay season begins. Downtime during peak haying can be costly, not just in labor but in lost crop quality. Preventive maintenance now saves emergency repairs later.   

Just like you prep, service, and inspect your equipment before the first cut, you should also prepare your finances. Preparing your budget for unexpected repairs, new purchases, and labor costs is essential. Whether it's a more efficient baler or a new moisture sensor, these investments often pay for themselves in yield and quality. But they come with a price tag—this is where smart financial planning steps in.  

Farmers don't have the luxury of a 'set-it-and-forget-it' budget model. It's tempting to simply sit down at the beginning of the year and lay out all incomes and expenses. However, a real-time approach is ideal. Things happen throughout the spring and summer months that require a financial plan adjustment. It's important to take time this spring to look at your budget again.  

Your relationship with your agricultural lender can be as crucial as your soil health. Many farmers take advantage of operating lines of credit to cover early-season expenses like fuel, parts, and labor. If you're considering new equipment, now is the time to talk about equipment financing. Some lenders offer seasonal payment schedules that align with farm income, making cash flow management easier.  

This growing season, don't just bank on the weather—bank on preparation. Sit down with your lender, review your cash flow, and map out what you need to succeed. Whether it's a short-term loan for unexpected repairs or a long-term investment in haying efficiency, the right financial tools are as essential as the ones in your shop.  

A strong hay season starts with readiness, both mechanical and financial. With your equipment tuned, your budget reviewed, and your banking needs aligned, you're setting yourself up to weather the season and thrive in it. Visit your local bank as soon as possible to take advantage of sound financial advice. 

Your Neighbor in Rural Lending