Cattle Expansion Funding

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Penantly72

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USDA MicroLoans ($50k max) are much less demanding than other types of USDA equipment loans and the person you deal with at the FSA office has almost complete discretion on deciding if you can get the loan. They have a bit of paperwork to get done but my startup loan was deposited 9 business days after I submitted my application. Buying cattle is considered an equipment loan which is the simplest type and my terms were 5 years @ 1.75%.
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Brute 23

Brute 23
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This is pretty much advice for everything in life. Having a drink is fine. Having twenty isn’t. I think when people hear loan they instantly associate it with overextending oneself.

Credit is an amazing tool for a business if you use it correctly and responsibly. Especially when used for an appreciating asset instead of a depreciating asset.
... and which is cattle?
 

Lucky

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Interesting thread. Anyone that thinks it’s better and cheaper to build a 100 cow herd starting with 5 and keeping heifers or buying a few cows here and there, rather than borrow the money to buy the 100 cow herd on day one doesn’t know how to use a calculator. Worrying about paying interest on money that is making you money is like people complaining about paying more taxes when they work OT, it just doesn’t make sense. Besides all that this guy broke the #1 rule in his initial post…..can we really believe any of this?
 

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