Loan Advice

FarmerJack

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

stephane_2

I doubt very much you'll get any loans with no assets.....

DCFC79

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 ?

flutterbyuk25

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

eschaton

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.

dealer_wins

It would cheaper getting your legs stretched and becoming an air-hostess

Bravehearted_2

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?

debtcutter

Have you written any kind of business plan?

If not you have a literally 0% chance. If you have, you have a small chance.