By Samantha Anderson
KWCH 12 Eyewitness News
5:33 PM CDT, October 4, 2012
Greg Brenneman has lived on a farm his whole life.
"It is a business, but it's still a way of life and I guess that's what we really relish--being out here in the rural community, enjoying that way of life," Brenneman said.
As a farmer, he understands the importance of loans to his business.
"Your input costs are high," Brenneman said. "Just about everyone has to borrow some type of money."
Brenneman says that it's expensive equipment, like self-propelled sprayers and combines, that make loans very important to farmers.
"There's more technology in agriculture today than there probably has ever been in the past," Brenneman said. "As we move into that type of technology it takes a lot if capital to supply the inputs and buy the machinery that it takes to farm today."
To help with this high demand for agriculture loans, a new branch of American AgCredit broke ground Wednesday in Salina. The new building will be much larger than the current facility.
"Our volume continues to grow," Greg Reno, regional vice president of American Agcredit, said. "That's a result of the continued capital demands in agriculture."
The location will be a regional hub for salina and the surrounding areas.
"We want to have a place where farmers are comfortable to come visit with us," Reno said.
Brenneman has been a customer of American AgCredit for 15 years. He says loans from American AgCredit as well as local and national banks are important for farmers, especially now that interest rates of agriculture loans are very low.
"They oversee our portfolio," Brenneman said. "They make sure we don't stub our toes somewhere."
Because farmers, like anyone else in business, can also use some expert help.
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