David Minge: “for the past 23 years, Minnesota Farm Service Agency borrowers have had access to a farm planning and analysis system…”

“for the past 23 years, Minnesota Farm Service Agency borrowers have had access to a farm planning and analysis system known as FINPACK. The software is a comprehensive system that is of great benefit to producers, their lenders, and to the Farm Service Agency that administers their loans. FINPACK, initially developed by the University of Minnesota in 1972, became a Farmers Home Administration (FmHA) initiated pilot project that began in six Minnesota FmHA offices in 1977. Due to its effectiveness, additional Minnesota FmHA offices began to use the system. Today FINPACK provides monthly cash flows, enterprise analyses, budgeting and balance sheets to nearly 10,000-15,000 producers in Minnesota. By their nature, FSA borrowers are borrowers at risk. As the 'lender of last resort' and provider of 'supervised credit,' FSA has a mandate to help producers improve their management capacity and ultimately their financial viability. Not only has FINPACK provided an efficient system to help Minnesota producers in their strategic planning, it has allowed a system of cooperation among educators, extension agents, consultants, farm advocates, and bankers.”