We went to the financial experts for you. Below you will see questions and recorded answers from Tom Dobbe, Regional Vice President at Farm Credit Services of America and Ben Herink, Farm Loan Manager at USDA, Farm Service Agency.
When do I need to talk to my banker?
How does an FSA Loan Work?
How much collateral will I need for an FSA loan?
What types of paperwork will the FSA office need to see?
What types of other information about my operation will the FSA office need to see?
Where do I go to talk to someone about an FSA loan?
What can I use an FSA loan for?
How does FSA work with my local bank on livestock barn loans?
How do conventional loans work for livestock facilities?
How much collateral will I need for a conventional loan?
What types of paperwork will my banker need to see?
What types of other information about my operation will my banker need?
What is different about an FSA loan?
How much money can I borrow through FSA?
How does FSA work with my local bank on real estate loans?
We’ve given you a lot to think about. For some of you, now is not the right time or circumstance to add livestock to your operation. For those of you who want to pursue livestock as an option, feel free to contact us at AFAN. We’re here to help!