{"id":130,"date":"2017-07-18T20:06:42","date_gmt":"2017-07-18T20:06:42","guid":{"rendered":"http:\/\/agricultureloan.com\/?page_id=130"},"modified":"2023-01-10T15:10:05","modified_gmt":"2023-01-10T15:10:05","slug":"hobby_farm_loans","status":"publish","type":"page","link":"https:\/\/agricultureloan.com\/hobby_farm_loans\/","title":{"rendered":"Hobby Farm Loans"},"content":{"rendered":"

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Hobby Farm Loans<\/span><\/h2>\n

America\u2019s heartland is getting older and the average age for today\u2019s traditional farmer is slowing going up. Fewer young people are staying in rural areas to live off the land. But in some places across the country, that trend is reversing. <\/span><\/p>\n

\nSmall agriculture<\/a> is gaining popularity again and this resurgence in the desire to reap what you sow, has created an uptick in young and old people looking to start their own small or hobby farms.<\/span><\/p>\n

Recent statistics show a minor increase in small farms for the first time since the Great Depression. After the mid 1930s, the number of farms in America plummeted by 5 million. But for the first time in 80 years, the number of <\/span><\/p>\n

American small farms is up 4 percent from the numbers in 2002 according to census data. \u00a0Many younger couples are looking to a rural setting, siting environmental health and climate changes as factors for their decision. \u00a0It also allows them to have a certain amount of control over their food in a way that most millennials did not have growing up.<\/span><\/p>\n

A hobby farm is an agricultural operation that isn\u2019t traditionally run as an \n\u201cagribusiness.\u201d<\/a> Hobby farms can, and usually are, self-sustaining, and most generate a profit but, according to the IRA, are not run as a primary source of income. <\/span><\/p>\n

Generally, hobby farmlands are small in size \u2013 between roughly 40 and 100 acres \u2013 and many are pride themselves on being committed to sustainable agriculture, eco-conscious practices, and fair, friendly animal treatment.<\/span><\/p>\n

\nClick here to get a Hobby Farm Loan.<\/a><\/p>\n

What Is A Hobby Farm?<\/strong><\/h2>\n

In the U.S., a high extent of homesteads and urban gardens may be classed as hobby farms. In 2007, more than 40% of farms reported under $2500 in salary and more than 10% of homesteads had under 10 acres of land (4.0 hectares). <\/span><\/p>\n

More than 50% of farm owners detailed that their fundamental salary was work outside of their homestead; in spite of the fact that, this figure incorporates some farm operators who don’t actually take part in cultivating and some very huge and gainful homesteads.<\/span><\/p>\n

As homesteads develop in measure, older, more traditional farms turn out to be less financially practical. Some are acquired and the greater part of the land consolidated with bigger close-by ranches, however the extensive homestead has little use for the structures. <\/span><\/p>\n

These can be sold off with just a building parcel of land, however are a great deal more saleable if an unassuming region, 5 to 15 acres of land (20,000 to 60,000 m\u00b2) is sold alongside them. These are normally gobbled up rapidly by individuals with well-paying city occupations who wish to live in the nation, or to retirees, who wish to keep busy as part-time farmers.<\/span><\/p>\n

Hobby Farm Income<\/strong><\/h2>\n

Just because the US Government does not look at hobby farms or part-time farmers as a primary source of income, doesn\u2019t mean that hobby farms are incapable of turning a profit. \u00a0With the advent of Etsy, Handmade at Amazon and other online marketplaces directed at helping entrepreneurs bring their goods and products to the masses. <\/span><\/p>\n

You can create a steady stream of secondary income hobby farming whether it\u2019s by selling produce at a farmers\u2019 market or making soap and other spa products to sell to buyers online or some other venture that has yet to be thought up!<\/span><\/p>\n

Take a walk through your local farmer’s\u2019 market and you will see what can be accomplished on a \u201cquaint, little hobby farm.\u201d \u00a0Though they aren\u2019t full-blown commercial farms, hobby farms still require a lot of preparation, work, and financial support to run successfully. <\/span><\/p>\n

While most federal funding for farms is directed towards large homestead farms that are used as a primary source of income, there are many competitive loan options available through banks that can help get a new hobby farmer started.<\/span><\/p>\n

\nClick here to get matched with a lender.<\/a><\/p>\n

Guidelines And Parameters<\/strong><\/h2>\n

Lower interest rates, a stronger economy, lower energy prices and an emerging ability of workers to work from a home environment are factors that have helped make the dream a larger possibility. A growing number of consumers are willing to live in more rural areas if they are also able to work from home a few days per month. <\/span><\/p>\n

Hobby farm and ranch loans are for homes that sit on 5+ Acres and cannot be financed through traditional financing. The property and the owner need to be hobby ranch by nature. This is something that a loan office can very easily define while going through the process of applying for one of these loans. <\/span><\/p>\n

Here are some guidelines and parameters that most banks use when processing a loan application for a hobby farm:<\/span><\/p>\n