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Offline smo

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youth loans
« on: September 18, 2013, 01:38:30 AM »
the usda has a youth loan for up to 5000 with almost no interest and i was thinking about getting it. i have property to run cows on that is green all year and want to put some heifers on it and breed them, not as a show gig but commercial. Does any one know about any other loans like this if there is a hang up some where in it i dont see or know of a better one than the usda one?

Offline obie105

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Re: youth loans
« Reply #1 on: September 18, 2013, 07:42:03 AM »
I used the USDA one when I was still a junior. I believe the one you are talking about. I liked it and they were also good about teaching record keeping as you went along. I know I also used one thru farm credit but it was more for feed for terminal projects. Talk to the Local farm service/USDA office. They will be able to help you.

Offline -XBAR-

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Re: youth loans
« Reply #2 on: September 18, 2013, 12:33:58 PM »
Jump all over it.  Calculate the Real rate of interest- At the rates they'll lock you in at ~1.1/2%, the Real rate will be negative!  Anytime you can borrow money for less than the rate of inflation, you take all they'll give you!

Look into the Beginning Farmer and Rancher loan through the FSA too.
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