Small Business Loan?
 
 

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Small Business Loan?

This is a discussion on Small Business Loan? within the Farm Forum forums, part of the Barns, Boarding, and Farms category
  • Small business equine loan

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  • 2 Post By Mulefeather

 
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    06-20-2014, 11:25 AM
  #1
Yearling
Small Business Loan?

I was just wondering. Is it possible to use a small business loan to buy a horse farm/property?
     
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    06-20-2014, 02:09 PM
  #2
Yearling
Unless you're planning on opening up a business that requires the purchase of a property (boarding stable, farming, training, what have you), no bank would finance the purchase of a farm as part of a small business loan. Even then, most banks don't usually have enough experience with those types of businesses to know if they're going to be a decent investment.

There are a number of lenders that specialize ONLY in agricultural/rural property purchases. American AgCredit and AgChoice are two that specialize in those sort of lending practices.

If you're looking at opening up a business related to horses or farming, you're going to need to come up with a business plan before applying for a loan. This states what your goal is, where you expect to be in five years, and when the bank can expect a return on their investment.
Speed Racer and beau159 like this.
     



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