Financing Your Farming Dream2/14/2020
Your dream is to farm, but you haven't found the lender to help get you started. Plains Land Bank is the right bank to help turn your dream into reality. We understand the farmer's needs and will prove to be a great resource for financing your farming dream.
A Common Myth
There is a common myth that farmers need to already be well- established in order to be eligible for land loans in Texas. The reality is that there are programs that are designed especially for new farmers, inexperienced farmers, small farmers, and more.
If your dream is built around becoming a farmer in Texas, do not be discouraged because you are new to the agricultural industry. With the right agricultural lender, you can make that dream happen. By shopping around and doing your due diligence, you will likely find a lender that will fit your needs and help your operation grow.
How To Apply For Financing
If you have your eye on some land, you can apply to be pre-qualified to make the purchase through a land lender. Working closely with a bank that understands the needs of farmers and will ensure that you get the support that you need throughout the process is vital.
Speaking with agricultural lending experts will help give you a jumpstart on determining eligibility and which loan program will work best for your operation. Gathering the information you need is the first of many steps you'll need to take -- but it's one that's well worth the effort.
Credit is Important (But It's Not the Only Deciding Factor)
Your credit score will be a factor in the process of obtaining a farming loan, but it's not the only component of determining eligibility. Other considerations are taken into account, especially for young borrowers.
Your Dream Could Become a Reality
If farming is something you feel you are drawn to or if you want to expand your current operation, the right financing package can help. Plains Land Bank can provide the financial assistance that you need to become a part of the farming community in Texas. For more information, contact us today.