Young, Beginning, Small Farmer Success Story #5 - August 2007:TODD AND STACY HAMILTON
The youngest of four and the only boy, Todd Hamilton knew while growing up his love of farming would bring him back to the farm. Although farming was all he wanted to do, Todd also knew how important obtaining a college degree would be in case farming didn’t pan out or the timing wasn’t quite right when he was ready to return to the family farm. Attending a smaller high school Todd didn’t feel like he would ‘fit in’ at a larger university like K-State. So Fort Hays State seemed to be the perfect fit, a smaller school and much closer to the farm where driving back to help out when needed wouldn’t be a problem. After obtaining his ‘Agriculture’ degree in 2000 he met his wife Stacey also the youngest of a large farming family from Dodge City. Home for the Hamilton’s is just outside of Ensign, KS where they have a two year old son and this young family of three will soon be a family of four!!
After he obtained his degree Todd had the opportunity to go back to the farm and returned to farm with his dad and uncle who had formed a partnership called Hamilton Brothers. In July of 2003 Todd was able to purchase a farm near his dad’s headquarters and came to Farm Credit of Southwest Kansas for financing. He was referred by his dad and uncle who had existing relationship with FLCA at the Dodge City office and Hamilton Brothers has also moved their operating loan to Farm Credit of Southwest Kansas. Why Farm Credit, Todd explains, “I always appreciate the service I receive from the Dodge City office and really like the patronage program as well.” In 2006 Todd was given the opportunity to purchase his uncle’s 50% interest in the partnership.
Todd notes that interest rates “could always be lower” but appreciates the lower rate he was able to obtain as a qualifying ‘Young and Beginning’ Borrower at Farm Credit of Southwest Kansas. Todd also stated “that capital requirements for the latest equipment and technology are the biggest challenges to young and beginning farmers today. Equipment is expensive and you need not only a lender that understands agriculture and has competitive rates and terms like Farm Credit of Southwest Kansas but you also must spread out the cost of this investment by farming as many acres as you can. To accomplish this we custom farm for others which not only provides additional income but enables us to utilize the latest technology on our farm we otherwise couldn’t justify.” The partnership also maintains detailed computer records on production and cost records on a rolling 9-year basis for the farm as well as detailed forward pricing and contracts on commodities they grow. As a result all of the partners have finger tip access to detailed production and marketing information for the partnership.
Look into Todd and Stacey’s eyes and you’ll see the passion, pride and satisfaction farming brings to them; agriculture needs young farmers like Todd and Stacey to carry on the heritage of the family farm. They are the ‘role model’ young and beginning farmers and Farm Credit of Southwest Kansas is proud to call them "partners!"
Farm Credit of Southwest Kansas is committed to helping young, beginning, and small farmers in Southwest Kansas. Contact us to see how we can help you.
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