Many farmers and agribusiness professionals are not aware of the various financial assistance opportunities that are available to them. In this blog, we will talk about the loan options offered by the USDA. Funds are available to those just starting out in agribusiness and to experienced professionals.
The following programs are available:
Loans to purchase of expand a farm or ranch: This type of loan can be used for everything from building and closing costs, land purchase and expansion and protection of resources.
Loans to purchase livestock, seed, or equipment: These funds can be put towards livestock, seed and equipment. The USDA also shares that these finds can be allocated for family living costs while the farm gets on its feet.
Storage Loans: This is the loan to explore for producers looking to upgrade or even erect new handling and storage facilities.
Commodity Loans: The dollars from this loan can be directed towards interim relief during harvest when cash flow is often needed. This allows the professional to avoid selling commodities at lows.
The USDA offers a helpful tool on their website that allows you to find out what type of loan may fit your needs. It also teaches you about the application process and much more. Here is the link to that site:
For assistance with this and other financial needs you may have, please contact Holbrook & Manter. We are uniquely qualified to assist any size farming operation.