Loading...
You are here:  Home  >  Money Matters  >  Current Article

How to Get Your First Farm Loan

By   /  June 15, 2015  /  1 Comment

Here’s what lenders are looking for and what you can expect as you go through the process of borrowing money from a bank. It’s good information even for those who’ve gotten loans in the past.

    Print       Email
If you are looking at your first farm loan, chances are you need some money to capitalize the start
    Print       Email

About the author

I work with farmers on finances. I started with UVM Extension in 1983, and have worked with hundreds of farmers on issues ranging from starting a farm, how to get a loan, leasing a farm, understanding farm finances, to retiring from farming. I teach 1 or 2 courses for farmers each winter. I am working with several farmers now on business plans, and I continue to work with many farmers on balance sheets and budgeting.

1 Comment

  1. Gene Schriefer says:

    Lending standards have gotten very strict after the fast and loose lending practices of the large banks and resulting financial meltdown.

    Beginning producers will need a more significant stake (equity/capital) to get loan. One of our commercial ag lenders stated you need your age in equity. i.e. 25 year old would need a 25% down payment/equity.

You might also like...

What to Consider When Developing Winter Cow Care Agreements

Read More →
Translate »