When farmers choose a lender, knowledge of the agriculture industry is more important than location or low interest rates, according to a survey released this week.

Nearly 70% of the farmers surveyed said it is "extremely important" for a lender to have a good understanding of the often-unpredictable farm economy. Meanwhile, fewer than 45% of the 184 respondents said they choose a lender because it has the lowest interest rate, and only 20% rated convenient location as critical.

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