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Agricultural Loan Officer

 

Overview

Agriculture loan officers, or agricultural lenders, work to help farmers and rural citizens obtain funds needed to fund their operation, purchase property, and more.

 

 

What responsibilities will I have?

  • Seek lending relationships with existing customers
  • Actively call on prospective borrowers
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services
  • Develop and analyze all types of credit information
  • Approve within delegated authority loan structures pricing and conditions on loan transactions
  • Combine agricultural and business knowledge with an in-depth understanding of each customer’s current financial position in order to provide innovative and workable alternatives to solve problems the customer faces in their ongoing farming operations
  • Ensure all files are maintained in a secure environment to protect borrowers’ data
  • Participate in training as scheduled by the supervisor
  • Evaluate the risk in loan transactions and assign a probability of default and loss given default
  • Manage and grow existing loan portfolios
  • Participate in community and industry events
  • Prepare credit analysis on assigned portfolio directly or through the use of a credit analyst

 

What education and training is required?

Becoming an agricultural loan officer requires a bachelor’s degree in agricultural business, business, accounting or finance. A general understanding of agriculture is very valuable and desired.

 

To pursue a career as an agricultural loan officer:

The following high school courses are recommended: agricultural education, computer courses, accounting, economics, and personal finance.  

 

Where can I work?

Agricultural loan officers most often work for banks, some of which are agricultural in nature.

 

Future Job Market / Outlook

The future outlook for an agricultural loan officer will be good over the next five years. 

 

Suggested Professional Organizations and Associations

  • American Agricultural Economics Association
  • Local Chamber of Commerce
  • American Bankers Association