Young entrepreneurs rise to the challenge by taking the road less traveled.

Many young farmers across the Yankee Farm Credit territory could have chosen easier paths in life. Instead, they went down the road less traveled and took the risk of becoming entrepreneurs. They are bold and extraordinary individuals, and they deserve recognition. To pay tribute to their choices, hard work and ingenuity, we are saluting these talented business owners in our annual report this year.

A resource for young agricultural entrepreneurs

This is our way of letting you know that we are committed to supporting the financial and business management requirements of young agricultural entrepreneurs, including those who are embarking on start-up enterprises. When you do business with Yankee Farm Credit, youth is not a roadblock because you need financial assistance as you launch your entrepreneurial career.

Our reason why is very basic. The young farmers of today are the customers of tomorrow. They need the opportunity to get their feet on the ground and get into the business of generating profit.

Yankee Farm Credit is here to help jump-start these fledgling operations. In fact, our loan officers and financial service specialists work every day with young business owners to develop realistic business plans and create flexible borrowing programs that match the needs and revenue streams of individual businesses.

Our objective is to support the development of successful, long-term businesses, and we do whatever we can to assist.

Yankee accepts the risk Association President Dean Moreau says, “Lending to young farmers, who may have weak balance sheets or cash flow difficulties, means accepting risk for any lender. At Yankee Farm Credit, we willingly accept this risk. We know that young farmers struggle. But we bet on a lot of good people and stay with them through their tough times. Before you know it they make a go of it.” Dean adds, “However, we may also say ‘no’ to a proposal that requires too much debt, because we know that a huge financial burden makes success next to impossible and is the worst thing we could do for a young person. Still, we will work with you to search for another way to achieve the same business goal with less debt if we have confidence in your ability to succeed.”

Click on the name of each of the entrepreneurs or graduates below to find out more about the road they traveled:

Entrepreneurs:

• Ben and Andrew Saenger, Saenger cattle, Shoreham, Vt.
• Dean Rheaume, Maurice Rheaume & Sons, Middlebury, Vt.
• Keith Sprague, Sprague's Ranch, East Brookfield, Vt.
• Mike Garrow, Rocklan Farm, Berkshire, Vt.
• Pete Norris, Jr. Greenhaven Gardens & Nursery, New Haven, Vt.

"Graduates":

• Ronald Patenaude, Patenaude Farm, Holland Center, Vt.
• Bruce Bascom, Bascom Maple Farms, Inc., Alstead, N.H.
• Chris and John Laggis, Laggis brothers Farm, Hardwick, Vt.

Click here for more information about our Young, Beginning and Small Farmers Program.

Contact us at info@yankeeaca.com for more information.

• 4 tips on how to survive agriculture's down cycles
• Building a business plan.
• Who needs a consultant?
• Improve management.

© 1999-2004 Yankee Farm Credit, ACA. All rights reserved.