My thought is if 230 head can't pay for more growth and you don't want to use your money... it's probably not worth doing.
I am not afraid of some debt. It allows a person to take advantage of opportunity. Just don't get too far in. Be careful to keep it at a level that even if things go south you will still be able to pay it off. Example if I had 230 producing cows I would fell comfortable buying another 70 cows on credit. If things go in the tank 300 calves will still pay the piper. I use Farm Credit.
Awesome. Take your grandkids fishing. My situation isn't yours.MEH, taking your grandkids fishing is worth more than any herd of cows. Sunup to sundown, and every weekend is just not appealing to me anymore.
Folks that tell you how you shouldn't use your credit to expand your business don't know business or don't have any credit. Prolly both.I've set up a meeting with Farm Credit and my local FSA office. I appreciate those who tried to answer my question instead of worrying about my tax situation, my cash flow situation and my ability to expand.
I'm not sure where she's from but I just assumed from her posts that it's a state that allows recreational marijuana use....Shell is fluent in Ebonics.
Folks that tell you how you shouldn't use your credit to expand your business don't know business or don't have any credit. Prolly both.
Made a spreadsheet at one point to compare keeping replacements vs incrementally buying some with borrowed money vs buying them all immediately with borrowed money. At that time it showed me profiting $100,000 more over 5 years to just buy them all initially.Folks that tell you how you shouldn't use your credit to expand your business don't know business or don't have any credit. Prolly both.
Bahahahahaha. Good luck figuring that out... I'm not even sure. Whipskies on dubs!Could you translate this into English please......
Nothing wrong with that. I have different accent come out occasionally. I have a hotel-E... Indie one. Not to good on Spanish wish I could do that one. Its not just ebonics it's straight inner black women head roll, face expressions, and all. Have no clue where I got that, I may have been black in a before life. My friend told me one time I always have black people talking to me. She said they think your black. I said no I just talk to people like they are people, doesn't matter to me what they look like. Some people get so caught up in how people going to see them or if someone see them talking to somebody that's not in their class what they will think.Shell is fluent in Ebonics.
I too had to start and buy cattle out of pocket. I used a local bank originally but now there are loans to help new farmers and ranchers get started. Low inerest rates through the government.I've financed my entire herd out of my pocket. I'm a first generation cattleman I started with nothing and I'm up to over 230 head in three years. I have the ability to expand again but at some point I'd like to use a loan instead of continually funding it out of my pocket.
Is there special funding programs through USDA/FSA or is my play here to go to the bank or Farm Credit?
This board has been an amazing resource for me. Thank y'all for the continued help.
I'm not sure where she's from but I just assumed from her posts that it's a state that allows recreational marijuana use....
My thought is if 230 head can't pay for more growth and you don't want to use your money... it's probably not worth doing.
You are right. Why change now?It's grown it from 0 to 230. I'm pretty sure my plan has worked pretty well this far.
I don't have credit and don't need credit and I'm proud of it.
You are right. Why change now?
That is a lot of growth, very quickly. I'm just overly conservative I guess.It was far easier to go from 0 to 230 than it'll be to go from 230 to 750-1000.
I don't have credit and don't need credit and I'm proud of it.
I think the most the FSA can lend an individual or entity is $600,000. That may be the cap just on land. I don't quite remember.It was far easier to go from 0 to 230 than it'll be to go from 230 to 750-1000.