Completing a Loan Application

1. Completing a Loan Application Colorado Agriculture Business

2. You have invested $32000 in planting your crops this year. You have $2817 cash. Farmer John bought Besse from you and still owes you $900. You have $57,600 worth of crops not harvested yet. You have livestock that you could sell worth $128,042. You have $4200 of livestock currently for sale. You have feed and seed stored worth $2600

3. You have a tractor worth $160,000 You have a disk worth $3500. You have a combine worth $240,000 You have a semi worth $68,000. You owe the bank $15,000. You have a tractor worth $18,000 You have a pick-up worth $36,500. You owe the bank $18,000 You have a pick-up worth $38,500. You owe the bank $17,500 You have a planter worth $4000

4. You sold your corn, but your client still owes you $12,000. You own some other real estate worth $40,000 and you still owe $21,000. Your house is worth $142,000. You owe $4200 in property taxes. You have $85,500 worth of breeding livestock. You have a $160,000 property, but you owe $120,000 to FCS. You have other farm property that is worth $200,000 and you owe $40,000 on it.

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7. You buy $22700 worth of feeder pigs in October. You help your neighbor plant his crop in May for $800. In October you buy $4500 worth of lambs to feed out. You get paid $800 for working on your neighbor’s dairy in January. You help your neighbor build a new barn. He pays you $900/month in February and March. You pay your neighbor $1000 in October and $1100 in November to use his bull. In October you buy $98,200 worth of calves to feed out.

8. You sold a second batch of spring calves for 40,000 in March. You sold some cow/calf pairs for $7500 in February. You sold some old equipment for $26,150 in February. You sold two bulls for $6000 in February. You had your annual prospect sale it made $ 24200 in March. You sold some cow/calf pairs for $6300 in January. You sold twenty weaner pigs for $2500 in February. You sold your spring calves for $76300 in March.

9. You sold some more pigs for $900 in May. You sold first cutting alfalfa for $49700 in June. You sold held over hay for $10,400 in March. You sell hay for $700 in July. You sold held over hay for $6000 in February. You sell a steer to your family for $400 in August.

10. You sell hay for $46550 in September. You help your neighbor paint his house for $800 in April. You sell pumpkin’s out of you pumpkin patch for $800 in October. You take cows to the sale barn and make $1830 in December. You sell the rest of your hay for $26000 in November. You sell lambs for $3500 in December. You sell steers for $45270 in December.

11. You pay $400 in December and $500 in January for semen straws. You have your fields sprayed in April for $3100. You have it sprayed again in August for $2000. You pay $700 in February and $500 in March to use a friend’s bull. You hire custom harvesters in July for $2400. You apply pesticides and herbicides to your crops. It cost you $2700 in April and $800 in August. You use a friend’s purebred Suffolk ram, it costs you $200 in June and $200 in August.

12. You buy chemicals in February for $500. You buy $5000 of hay in May. You buy hay for $15000 in February. You buy corn silage for your cattle. It costs you $5000 in January, February, April, May, June, August, September and November. You have a payment for $5200 in August and $2900 in November on a long term loan. You buy $37,500 of silage in December. You buy $10000 of hay in August.

13. Your insurance payment of $2200 was due in May. You fill up your gas tank in August and it costs you $3000. You hired a kid to help paint the barn for $200 in July. You fill up your diesel tank again in December and it costs you $2000. Your hired hand gets paid $1500/month You pay your forest service permit of $7800 in two payments May and November. You buy lime in December for $1900.

14. Transmission went out of your tractor in February, the repairs cost you $5200. The water line breaks in July, it costs you $600 to repair. Combine needs repaired in September, it costs you $1200. You have a hydraulic line break, repairs cost $200 in April. Your pickup broke down in October, the repairs cost you $600. Repairs to your tractor in May cost $400. You have a water line freeze in November, the cost to repair it was $400. Semi needed repairs done in June the cost was $800.

15. You get $200 of propane in January, February, April, May, June, July, November and December. You buy corn seed in March. The cost is $3100. You pay your income tax in June for $1300. You pay your cell phone bill of $100 in March, April, May, June, September, October and December. You pay your property taxes in December for $1200. You pay $100 in June for miscellaneous utilities. Your electric bill is $200 per month.

16. You pay a $400 vet bill in February and June for a total of $800. You buy hay for $20000 in April. You have a payment in August for $2000, September for $2000 and November for $2200 on an intermediate loan. You fill up your diesel tank in April and it costs you $5000. You pay a vet bill for $1500 in October. You buy hay for $2500 in November. You pay a vet bill for $1600 in November.