Farm Credit is very proud to provide such a great educational service to our local F.F.A. chapters. The contest is an excellent opportunity for participating students to learn new skills in financial management, as well as sharpen their skills in written and oral presentations. Although this loan package was an agricultural credit request, many of the principals taught apply also to non-farm financing such as buying a car or residence. We commend each of the participants and their advisors for their hard work. Farm Credit West hopes these students will profit from the contest with a better understanding of agricultural lending and finance.
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(L to R): Advisor Alex Flores (Santa Paula), first place winner Ricardo Alamillo (Santa Paula), third place winner Christian Osequera (Santa Paula), second place winner Sarah LaMar (Camarillo), Jacob Rycus (Camarillo), fourth place winner Daisy Arroyo (Carpinteria), Advisor Bobbi Roderick (Carpinteria), Ariana Pelcastre (Carpinteria) and Advisor Sam Swanson (Camarillo). |
Farm Credit West 2006 F.F.A. loan contest
February 10, 2006
Santa Paula News
The Ventura Branch of Farm Credit West was again proud to sponsor the F.F.A. Loan Contest for local high school chapters of the Future Farmers of America.
The participating students from the F.F.A. chapters tried their skills as loan officers in their high school classrooms. These students analyzed the personal and financial information of a fictitious loan applicant. This year’s loan request involved the hypothetical purchase of 26 acres of avocados in the Santa Paula area. Loan packages went to each F.F.A. advisor towards the end of November 2005.Students learned about the five basic credit factors of conditions, character, capital, capacity, and collateral, as well as how to calculate various financial factors such as working capital and net worth.Selected students wrote out their credit analysis and recommended either approval or denial of the applicant’s loan request. These students then presented their analysis orally before Farm Credit’s panel of judges on February 1, 2006 in Ventura. Judges of this year’s contest were Pat Kelley of our Ventura office and Ryan Hoffman from our Carpinteria office.Ricardo Alamillo of Santa Paula F.F.A. won first place, Sarah LaMar of Camarillo F.F.A. won second place, Christian Osequers of Santa Paula F.F.A won third place and Daisy Arroyo from Carpinteria F.F.A. won fourth place. They received cash awards and certificates. Each participant and advisor also received a bag of goodies, compliments of Farm Credit and Stewart Title.
