Starting The Agriculture Loan Process?
Thinking about taking out an agriculture loan to finance your new chicken farm? There are a few things; five to be specific, that you will need to start the process. We specialize in agriculture construction financing, and our team has over 60 years of experience in this industry. We will work directly with you to fulfill your dreams of starting your own farm in the growing poultry industry.
First, you will need to identify a tract of property that is a suitable to build on. This property must be zoned and comply with local setbacks. Additionally, it can not be located in an environmental sensitive area.5 Things You Need To Start The Agriculture Loan Process #SmallBiz Click To Tweet
Next, a Letter of Intent from a poultry company. This letter ensures the borrower that the company will place birds in the houses once construction is complete.
Don’t forget about proper permits! Comprehensive Nutrient Management Plan, Stormwater Permit, Erosion Control/Site Plan, CAFO permit (if necessary), and a building permit, to name a few.
Then you will need complete bids for the project—building bid, equipment, and generator bid, excavation and site work bid, etc.
Lastly, contract income and expense projections for the poultry company—typically provided with the letter of intent.