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Loan Advice
FarmerJack
Posts: 1 Newbie
in Loans
Hi all,
Im trying to set up a farm business from scratch. The farm in question is under a 10 year tenancy agreement and is owned by the Forestry Commission who want to give the farm to a young people wishing to start a career in agriculture.
Whilst the farm itself is good to go - You still need money to buy livestock, machinery etc.
The banks (that I know of) will not lend me any money as I do not have any fixed assets or finance myself.
Does anyone have any advice or suggestions on how I can secure a loan of about £160,000 to start a farming enterprise. Any help would be great!
Many Thanks,
FarmerJack :j
Im trying to set up a farm business from scratch. The farm in question is under a 10 year tenancy agreement and is owned by the Forestry Commission who want to give the farm to a young people wishing to start a career in agriculture.
Whilst the farm itself is good to go - You still need money to buy livestock, machinery etc.
The banks (that I know of) will not lend me any money as I do not have any fixed assets or finance myself.
Does anyone have any advice or suggestions on how I can secure a loan of about £160,000 to start a farming enterprise. Any help would be great!
Many Thanks,
FarmerJack :j
0
Comments
-
I doubt very much you'll get any loans with no assets.....0
-
Wow you want to borrow 160k to start up a farm.
Are you prepared for all the hard work, very early starts, very cold mornings ?
Just wondering but what made you choose to go down the route of farming ?0 -
If you are under 30 then the Prince's Trust have a scheme to help farmers set up, but the max they give is £2500!
http://www.princes-trust.org.uk/need_help/regions_and_countries/south_west/jason_kanabus_fund.aspx* Rainbow baby boy born 9th August 2016 *
* Slimming World follower (I breastfeed so get 6 hex's!) *
0 -
flutterbyuk25 wrote: »If you are under 30 then the Prince's Trust have a scheme to help farmers set up, but the max they give is £2500!
http://www.princes-trust.org.uk/need_help/regions_and_countries/south_west/jason_kanabus_fund.aspx
Should be enough to buy a few cows and a few sheep.0 -
It would cheaper getting your legs stretched and becoming an air-hostess
0 -
One questions shouldn't even be asked - like how to get 160k without putting in any of your own dime.
How does this op even think this is a possibility?0 -
Have you written any kind of business plan?
If not you have a literally 0% chance. If you have, you have a small chance.From £8,800 to £2,200 in 2 years.
Nearly there, just the 0% credit card to go!0
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