You need a loan or credit for farmers for any purpose. I work, I have a payday of $ 1,470. I also have my own farm, but as far as I know, it can’t be a loan or credit collateral? Please help me choose the best loan for a farmer.
Credit for farmers – where to get?
If you need to take a loan for farmers for any purpose, then from what I see from the offers of banks, you should not have a problem at all …
As a farmer, you can apply for a loan for a private individual who receives agricultural income, ie you apply for a classic cash loan, or you can get a typical loan for a farmer, the agricultural loan can be taken for:
- fixed assets.
Banks worth paying attention to
If I were to indicate 3-4 banks where it is worth applying for a cash loan for a farmer, I would recommend:
- Let Bank
- SY-Good Bank
Cash loans at these banks are granted for a fairly long period of up to 12 years and, importantly, they are cash loans for any purpose and without collateral. The amount you can apply for in these banks is up to $ 200,000.
However, if you are a farmer, the coolest idea where you can take a farmer’s loan is a preferential loan called “Young Farmer”. It is a loan with AR-MyPocket Finance subsidies for bank interest, and its interest rate is even 2%!
This type of agricultural loan, however, has certain requirements, it must be secured and must be taken for a specific purpose, so you will have to settle it well. As for security, they can be eg buildings related to agricultural activity or land.
You can also opt for an agricultural loan. Such a loan is taken against real estate, and the amounts can reach up to several million dollars – but here I warn you, because it is an option for well-oriented and disciplined farmers.
You may also want to consider a leaseback or a secured loan.
To sum up, NetPick Bank seems to be the best against all these options I’ve mentioned. First of all, you can get an agricultural loan of up to $ 350,000 with a maximum loan term of 144 months (12 years).
Secondly, the agricultural loan at NetPick Bank does not require any collateral, which is very pleasing …
Thirdly, the farmer’s creditworthiness is calculated by NetPick Bank very favorably, because to the creditworthiness, this bank includes:
- income from invoices,
- EU subsidies,
- forecast of future farm income.
I think you should hit NetPick Bank first. If you do not get a loan there, then you should consider other options, but since you have a farm – you should not encounter any problems getting a farm loan.