A partnership has formed with Conterra Asset Management & Pactola! Conterra is one of the three master central servicers for Farmer Mac. They also manage over $2 billion of USDA guaranteed loans. Conterra also has an agricultural appraisal company called Contour Valuation Services, which has a network throughout 15 states to provide farm, ranch and agricultural facility appraisals.
“The partnership with Conterra offers us several new and exciting products for our agricultural lenders” states Phil Love, Pactola’s President. “Conterra has several alternative lending programs that can provide transitional financing, debt restructures, and bridge loans for special circumstances. These programs may allow a credit union to move some farm loans that show stress but have ample equity off their balance sheet. Conterra also has a program that allows for expanded eligibility over Farmer Mac standards. This will allow us to provide additional agriculture financing options for the credit unions we work with.”