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Farmer and rancher loans
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<blockquote data-quote="tnwalkingred" data-source="post: 1072152" data-attributes="member: 14434"><p>I got a loan from the FSA. It enabled me to buy 10 feeder calves and 8 mama cows. It also enabled me to purchase a new squeeze chute, working pen, and grain bin. I got the loan for 1 perecent interest so there really is no incentive to pay it off early. The loan is based on a 5 year term which allows me to start making money on the business before I have to pay it off. It's working well so far and in four years I'll be debt free with a great herd built up. I work a 9-5 job and make good money doing that. I'm 32 and if everything goes to plan I should be able to retire at 50 and farm full time. I'm think the FSA loan program is a great idea as it allows farmers to borrow money for start up/operating expenses without getting taken to the cleaners on the interest rates. The difference between 1 and 5 percent would shock you! </p><p></p><p>KW</p></blockquote><p></p>
[QUOTE="tnwalkingred, post: 1072152, member: 14434"] I got a loan from the FSA. It enabled me to buy 10 feeder calves and 8 mama cows. It also enabled me to purchase a new squeeze chute, working pen, and grain bin. I got the loan for 1 perecent interest so there really is no incentive to pay it off early. The loan is based on a 5 year term which allows me to start making money on the business before I have to pay it off. It's working well so far and in four years I'll be debt free with a great herd built up. I work a 9-5 job and make good money doing that. I'm 32 and if everything goes to plan I should be able to retire at 50 and farm full time. I'm think the FSA loan program is a great idea as it allows farmers to borrow money for start up/operating expenses without getting taken to the cleaners on the interest rates. The difference between 1 and 5 percent would shock you! KW [/QUOTE]
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