Being the
top producer of beef in the world, we have ranchers to thank for raising cattle and a variety of livestock for the food we eat. Families and more recently, women and minorities own these ranches that run on capital and computers to survive and serve the public. You can only expect that these owner-operators have needs unique and specific to their industry, thus the creation of a targeted ranch financing.
If you are beginner farmer or someone looking to grow your ranching business, you can look into these loan options.
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Which Ranch Financing Fits You
There are many sources to tap financing for your ranch operations. They can be from the federal government through the USDA Farm Service Agency (FSA) or private lenders that are usually commercial banks.
Consider your ranch financing option based on where you are in the ranching business.
1. You are a “beginner farmer” by FSA standards; that is: you have not operated a ranch or farm for more than 10 years and have not owned any ranch that is greater than 30% of the average size farm in your county per the Census of Agriculture at the time you submitted your loan application..
As a beginner farmer, you have access to a targeted source of funds meant to help you out in the first 10 years of operating your ranch.
- Farm Ownership loans are used to purchase land and capital.
- Operating Loans help farmers/ranchers increase profitability by funding day-to-day operating expenses and family living expenses; assisting with the diversification of operations, and opening doors to marketing opportunities.
- Farm loan program targets small and medium-sized ranchers, assisting them in various aspects of their business operations.
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2. You are seeking certification in line with standards toward sustainable and organic agriculture. Seeking to be certified with
USDA Organic, TILTH or CCOF can cost money because you have to change your operation. A ranch loan from the FSA can cover the expense will your business transitions.
3. You are seeking to update your farm equipment, buy land for greater acreage, build or improve outbuildings, or just need funds for your day-to-day operations. Aside from the FSA, these loans can be sourced from commercial banks. They can have dedicated departments for your ranchers and farmers so they can arrange the proper financing package possible.
Ranch Financing and Training
Ranchers need financing and training to upgrade their skills and operations to compete. And students wanting to take the agricultural path can learn the science and business of farming before they fully join the industry.
The FSA has loans that let students operate a small business to learn the ropes of an agriculture business. Student organizations, Future Farmers of America for example, provide training and education to those interested in farming.
Looking for a ranch loan? Right this way to lenders.»