Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Business Spotlight: Hagler Farms

2 min read

Ready to talk to an expert?

Bryan Hagler tells the story of Hagler Farms in Laurinburg, North Carolina.

Video Transcript

Bryan Hagler: I think people are going to find out how much of life they’re missing by sitting in front of a television.

Hagler: Well, my father farmed and that’s where my love for farming came from. My farmer went out of farming in 1972. I worked for other farmers those years. I didn’t play a whole lot of sports in high school because all I wanted to do was farm. You give me a tractor, you know, I’d run it until I couldn’t run it no more. And, you know, I don’t know why. By the time I was pushing toy tractors around in the yard, this was all I ever wanted to do.

Hagler: Didn’t own any land. There’s no family land. I bought this piece of land in 1996. I didn’t have a clue how I was going to pay for it. By today’s standard, it was nothing but, back then, it was more money then I thought ever existed. But we got it paid for. Lot of long hours. Lot of sacrifices.

Hagler: We’ve lived out here for quite some time. I love it out here. I take pictures when I walk…sunrises…you don’t get that in town. And I posted a few on Facebook just to see what kind of comments you get.

Hagler: We’re a family farm. A lot of this technology increases our ability to be even more environmentally friendly because they’re not making any more land. We’re trying to be the best stewards that we can. And now, we change seed populations with a touch screen. We do variable rate seeding in the computer that’s satellite-driven. We got 2 people with 2 engines doing what 5 or 6  used to do with 5 engines. I’m amazed every year at the new stuff that comes out. And, if you’d asked me, 10 years ago, would we be doing this…hey, no way!

Hagler: People we do business with is just like a very large family. I feel really blessed. I really do. I love being out here. I’m married to a wonderful woman who loves me…I don’t know why.

Hagler: I’m Bryan Hagler. This is my wife Janet. Welcome to Hagler Farms!

Ready to talk to an expert?

Share:
First Bank’s Good To Know Logo
Sign up for our newsletter and be the first to know about new tips, insights, and products from First Bank.
First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

Need Help Financing a Wedding in North Carolina? If you need help financing a wedding in North Carolina, just seek out one of 100+ First Bank locations scattered from Asheville to Kill Devil Hills. We offer a variety of loans that can help you finance the wedding of your dreams. Wedding Financing Options at First Bank First Bank has a number of options for anyone needing help financing a wedding in North Carolina. Personal loans — First Bank offers personal loans with highly competitive rates and flexible terms. Home equity line of credit (HELOC) —  First Bank home equity lines of credit are similarly to home equity loans in that they allow you to borrow money using your home’s equity as collateral. But unlike a home equity loan, a home equity line of credit allows you to borrow money as you need it, not in one lump-sum. Benefits include: Low interest rates Can be secured by equity in your primary or secondary residence Interest may be up to 100% tax deductible (consult with a tax professional for details) Credit lines available from $15,000 First Bank credit card* — First Bank’s Platinum Credit Card with Rewards gives you the financial freedom to make purchases in a convenient and secure way. Plus, you earn rewards points when you use your card. Other features include: $0 balance transfer fee Security benefits Shopping benefits Convenience benefits Contact a First Bank Specialist Today So if you need help financing a wedding, visit your nearest North Carolina First Bank and speak with one of our friendly associates. *Loans subject to credit approval. See our Terms and Conditions for complete details on our One Rewards Program. MasterCard, Debit MasterCard and the MasterCard brand marks are trademarks of MasterCard International Incorporated. ——— Sources: Mortgage Professor: https://www.mtgprofessor.com/A%20-%20Second%20Mortgages/what_is_a_heloc.htm 2 min read
Image for tile. How to Build Business Credit as a New Business: A Step-by-Step Guide 1. Establish Your Business Plan Creating a business plan is the first step when starting a business. It serves as a roadmap, outlining your goals, target market, financial projections, and strategies for success. A well-crafted, documented plan also conveys your vision to important stakeholders like CPAs and attorneys so they can provide tailored financial and legal guidance. A CPA will use your plan to assess budgeting, tax planning, and funding strategies while attorneys will use it to advise on business structure contracts and compliance. Ultimately, a business plan will transform your vision to actionable steps, ensuring professional advisors can help you build a solid foundation for long-term success. 2. Register Your Business With your business plan in hand, and the direction of your advisors, it’s time to set up your business legally. Incorporate your business as an LLC, corporation, or form a partnership. This not only legitimizes your operations but also separates your personal and business finances. Additionally, you’ll also want to apply for an Employer Identification Number (EIN) from the IRS, which acts as a social security number for your business. Make sure your business has a registered physical address and phone number, as lenders and credit bureaus will use this information to verify your business. 3. Open a Business Bank Account A dedicated business bank account is the foundation of good business financial management. By separating personal and business finances, you create clear financial records that help build your business’s financial reputation. At First Bank, we offer tailored business banking solutions to help you manage transactions, track expenses, and monitor cash flow—essential components for establishing your business credit. Pro Tip: Don’t settle for just any bank with business checking options. Spend some time researching banks and meet with a few different bankers to make sure you find a financial institution you believe in and a banker that you resonate with. The right banker will consider your full banking picture – offering holistic financial advice specific to your personal and business needs. At First Bank, we provide customized solutions based on a deep understanding of our customer’s financial history, goals, and needs. We even have a checking account that includes telehealth benefits for your employees. Click here to explore First Bank business checking account options or use this link to reach out to a First Bank Business Development Officer. 4. Obtain a D-U-N-S Number A D-U-N-S number from Dun & Bradstreet is essential for tracking your business’s credit. It serves as a unique identifier for your company, used by credit bureaus to assess your business’s creditworthiness. This step helps ensure that your business credit is separate from personal credit, which can lead to better loan terms and credit card offers in the future. Visit the Dun & Bradstreet website for more information on how to obtain a D-U-N-S number. 5. Establish Trade Lines with Vendors One of the best ways to build business credit is by working with vendors and suppliers that report to major business credit bureaus, such as Dun & Bradstreet, Experian, and Equifax Business. Establish trade lines by purchasing supplies or services on credit and consistently paying your invoices on time. A strong payment history is one of the most important factors in building a solid credit score. 6. Determine Your Credit Needs Business credit cards are an excellent short-term tool for building credit, especially when used responsibly. Additionally, you may want to consider other forms of credit that compliment your long-term business goals like a term loan for working capital or a commercial loan to purchase a building. Consulting with a trusted banking partner will help you determine the best financing package that makes the most sense for your business. First Bank offers a competitive business credit card featuring a wealth of benefits like 0% introductory APR, no annual fee, and powerful rewards program. To learn more about the First Bank Mastercard Business Card with Rewards, read our article “4 Reasons Why the First Bank Mastercard Business Credit Card is Good for Business”. 7. Monitor and Maintain Personal and Business Credit Personal credit is crucial for business financing, especially for small businesses and startups. Until business credit is established, an owner’s personal credit will be used by lenders to evaluate trustworthiness of the business itself. Everything from loan and credit approvals, interest rates and loan terms, personal guarantees, business credit card approvals, and business expansion opportunities will look at an owner’s personal credit score. Once your credit is established, it’s important to regularly monitor your credit reports for accuracy. Mistakes can happen, and any errors could negatively impact your score. By reviewing your credit reports from major bureaus, you can correct any inaccuracies and keep track of your credit performance. 8. Build Credit Gradually and Diversify Your Portfolio Building business credit is not an overnight process. Start by using small, manageable credit lines and paying them off in full each month. Over time, this demonstrates reliability to lenders and creditors, which can lead to increased credit limits and more favorable terms. Patience and consistency are key to long-term success. As your business grows, diversifying your credit sources can strengthen your overall credit profile. Consider applying for larger lines of credit, term loans, or equipment financing as your company expands. However, be mindful of your credit utilization ratio. Keeping your credit use below 30% of your available credit helps maintain a healthy score and shows that your business isn’t overly reliant on borrowing. 9. Manage Cash Flow Effectively Good cash flow management is the backbone of maintaining strong business credit. Make sure you always have enough cash on hand to cover expenses, ensuring you can make timely payments on any credit accounts. By maintaining a good relationship with your bank, you can improve your chances of securing future loans or credit increases. Why Choose First Bank for Your Business Banking Needs? First Bank is committed to being the best bank for business in North and South Carolina. We offer personalized service, local expertise, and a wide range of business banking solutions tailored to your needs. Our bankers will give you honest and sound advice that considers your unique situation and your long-term goals. Whether you’re looking to open a business account or apply for a line of credit, our team is here to support your financial growth every step of the way. Want to meet with a banker to discuss how you can improve your business credit? Request a meeting with a Business Development Officer or visit your local First Bank branch today to get started! 6 min read
First Bank logo
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognizing you when you return to our website and helping our team to understand which sections of the website are the most popular and useful.