Yankee Farm Credit :Notebook: Feature Stories



	Ben and Andrew Saenger, Saenger Cattle, Shoreham, Vt. In 2001, when Ben Saenger was 16 years old and his brother, Andrew, was 15, their parents, Paul and Rene, of Cream Hill Farm, proposed a business venture to the two boys. Capitalizing on their parents’ idea, the brothers borrowed $30,000 from Yankee Farm Credit and started their own cattle enterprise within the family’s beef operation. In less than a year, the two brothers bought 48 yearling beef animals, raised a healthy herd, paid the related expenses, sold the herd to their dad, paid off their Farm Credit loan and made a profit, despite low beef prices. In addition, in their “spare” time, they earned excellent grades at Middlebury High School and, during their second year in business, also played on the school’s state championship football team It was all in the plan Paul and Rene wanted to teach their sons about business through a unique hands-on learning experience. So, with their parent’s help, Ben and Andrew started on the road to business ownership by developing a plan and a budget. The brothers took their business package to Ken Button in Yankee’s Middlebury office. Andrew said, “Ken Button was always honest with us. He told us that Farm Credit would not have approved our loan without Ken knowing my dad and his business and my parents cosigning for our loan. Ken was very helpful answering our questions and explaining the lending process. He also extended our loan one year so we could postpone our sale date a few weeks in order to give the herd more time to grow and earn a better price for the beef.” A bright future Two successful seasons have passed and Ben and Andrew will enter their third season this spring. “We’ve learned a great deal about business, credit and raising a herd of beef animals. Our parents gave us the opportunity to be our own bosses, and the process has been a great experience for us.” About their future, Ben and Andrew agree that, eventually, they both want to own their own completely independent businesses. We can only hope those businesses will be in agriculture! 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.			Global marketplace Power of Collaboration McMahon Thoroughbreds PR Strategy... What goes down... Why you need financial... Opportunities abound... Smooth transition Managing your land Avoiding common mgt.... Can outsourcing... Risk Management... Entrepreneurial Spirit ... Business Reports Help... Customer. Stockholder. Farm Credit Lease Diverse Customer Base Young Entrepreneurs Ben & Andrew Saenger & Keith Sprague Mike Garrow Pete Norris, Jr. Graduates Ronald Patenaude Bruce Bascom Chris & John Laggis
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