Getting a loan from FSA
ฝัง
- เผยแพร่เมื่อ 21 มิ.ย. 2016
- I show some of the processes of taking out a farm loan through the Farm Service Agency.
Subscribe to How Farms Work ► bit.ly/XYVvDd
Facebook ► on. YpS8oH
How Farms Work Store ► www.HowFarmsWork.com - บันเทิง
Thanks so much Ryan for allowing us to see so much of the internal workings of your farming budget. I learned a lot watching your interaction with the agent and look forward to hearing how the payments whether in total or yearly go.
This video is good for younger people, (like me) to show what's involved. I've personally had experience already, because I bought my truck. It's good experience to have on something that isn't very expensive, just to know what you're getting into. I hate the interest rates on loans, but it's how banks make their money! Thanks for sharing!
as a farmer and taxpayer I would like it to be known that you don't "choose" to borrow from the USDA. other than a grain bin loan, you almost always have to be first denied from a commercial bank.
I start out 18 years ago farming if it was not for FSA I would have not made it..thanks for all there hard work
TW-20 Craig can I have a loan for farming if I dont have the money
Good Luck Ryan
Getting a loan is easy.Paying it back is the hard part. Best of luck.Your a good farmer you will be fine.
I can't find that video of you farm budget . I remember watching it, and I want to look at it again. Thanks
It is never easy being a farmer but you have to love what you do.
A friend of mine used to say; "Use your credit while you can, your cash will always be green".
I like the idea of the payments as a time/ safety buffer.
We bought an excavator at 0.0% interest, and my wife wanted to pay the final year off with money from savings.
I explained to her that losing that buffer would not be a beneficial step to take, if we ended up with some kind of emergency that actually required that money.
nice helpful guy.. some can be a right arrogant so and so....
Good video for young people to learn how a loan process works
A small loan of one million dollars!
those are really good rates on a 3 year loan, I'll have to try them for equipment
You took some of the questions in the loan process with FSA and showed it. Good to see it in action. Liked how your guy knew stuff about you. The decision process in why you purchased the equipment was nice to know.
All I could think at the beginning of the video was "are you ordering a loan at mcdonalds?"
Cheers for the Video! Apologies for butting in, I would love your initial thoughts. Have you ever tried - Chiveard Hacking Data Framework (Sure I saw it on Google)? It is an awesome one of a kind product for finding business credit minus the hard work. Ive heard some amazing things about it and my close friend Aubrey finally got excellent results with it.
Thanks for reminding me why I work with a local bank. Lot simpler with less paper work. I've also told that FsA and farm credit like to put a lean on everything.
It's tough. I'm ready to be done with FSA.
They will put a lean on your first born.
I was reading that FSA has a limit for each year & they have allotted most of it for this year already due to low commodity prices the last couple years.
Learned about gas 👍
U sit exactly like I do when talking professional.
is it going on the 8 r. and are you also keep ing your green grain cart
That's a good loan officer ,
Live in Cuba City wi like 25 min away from there farm I go past it like 2 a month
I went in to inquire about first time and minority/disadvantaged farmers and was basically told not to bother and felt really discouraged. So I bought 5 bred cows and stared a herd, I lease a bull. I have a full time job just needed some capital for outbuildings and supplies but I made do without.
If I had a million dollars I’d lose it all farming/ranching
front end light back end heavy but like you say will pay loan down good ideal on cart and good luck no one comes in takes the cart before you can it paid off.
John
good to hear
I had assumed that the FSA guy would be an older person in a suit and tie.
So how much is the starting farmer loan?
Was that in Lancaster?
Can you get a loan like this and not have to pay back/pay back very low monthly payments until you start making money from your farm or do you have to have a regular job to get this loan?
It always seams once FSA gets in their alway in an trying something!!
when did u record this
Again. I have never seen a farm that size without at least a straight grain truck or flat bed with sides
Loan officer sounds like a counselor.
why not invest in a semi and grain trailer or a straight truck. My reasoning for that is you can haul farther and faster.
a semi needs fuel, maintenance items and a driver. for a truck to make money is to keep it rolling, as letting it sit around knackers oil seals and tyres deteriorate anyway by uv light. does the diesel bug is a big thing in the usa? we got algae growth at fuel pumps clogging up the filters till it drips out the nozzle. also know about the EU rules on diesels to compare it too, if you have a older truck, you are banned from city centres and a euro 5 model at age of 3 years get restrictions on emissions even with ad blue. a ship can run on crude oil in the port of Rotterdam but a truck needs a clean emission euro 6 class. a truck often runs 18 to 20 hours a day with two drivers in allowed driving time, 24 hours max as 10 driving hours is maximum and a work day cannot exceed 12 hours.
so i am thinking in the heavy cost of fuel, drivers, tax on tax to use the roads and a 3 year life span of the truck to get in to emission zones and ridiculous fines for going over your drive time a minute as it gets monitored by the second on what you do.
***** they already have one
Arjan Wilbie a grain cart still needs fuel from a tractor that is operating it, a grain cart takes a driver too, a semi if used for all that i can be used for shouldn't sit around long enough for algae to bulled up, and algae only grow from bio diesel, plus there are solutions that you can pour in your fuel tank to keep the algae down or keep it away, and here in the USA the only restrictions of being banned from city for an older truck is in California and in the USA we do not have a limit on how long your driving time can be. On my families farm we grow potatoes for potato chips we have them ship to chipping plants in semis with van trailers, and those truck drivers only get about 4 to 6 hours of sleep a day
we are forced to run on 10 to 15% bio fuel mixture in sulphur free diesel. the classic diesels and for the $4.20 a us gallon it is steep. the EU wants their fingers in all pies, rules rules and more stupid rules. the potato farms in the Netherlands use hauling companies at tight prices and the drivers come from Poland and other low wage companies, they drive for 24 hours without any rest and cause big accidents doing so. i believe Canada is looking for workers and i plan to move country again, if possible a house in Ohio would be nice.
***** with a semi and grain trailer they will be able to haul more grain at faster speeds than with gravity wagons and tractors plus once they get done in one field and want to move to the next a semi compared to a wide grain cart is easier to travel down the road plus a semi and hopper bottom or grain trailer can hold one thousand bushels more than what that 800 bushel grain cart
That was the most awkward meeting I've ever sat in on.
My grandpa buys parts from them about 1 time a week
How much is land that way?
story city hell u were only 30miles from me lol
hi did you Make it
Where are you based out of? I heard Story City, I spent 4 years in Ames during college. Sure love that area!
Can you not put a deposit/earnest money down on the grain cart you are wanting to buy? Hold it for you? You are pretty much guaranteed the loan will be accepted by FSA, correct?
how many cows do you have
Can't you get the FSA guy to call over to the equipment company and say you've got approval for the funds to get the grain cart?
***** Great, then all we have to do is wait for the harvest.
do you want show all of your machinery in a video
Anyone notice that energy drink or whatever it was in the car
wy don't you get a gran truck
Enjoyed, The Video.
Didn't work with my loan officer.
Maybe It only works with other groups.
When you harvest, do you rent the harvester?
No they use his dad's 9710 John Deere I think it's that model any way
9510
+will zealand you have a spelling mistake in your channel description
Thats nice so why comment here and not on one of my videos.
will zealand I commented whilst watching this one
Good save when your response was same girlfriend and all was going well . saved that relationship . LOL
It sounds like a plan
y don't u just get a semi and a hopper trailer and get rid of the gravity wagons
Get one thing paid off so you can pay another piece of equipment just to stay in business yet not making anymore profits. You either have to be all in or all out in may things like farming. The small farmers are mostly a thing of the past.
this video is a month old.
Are you guys still thinking about buying another 8r?
+jacob Not right now. Planter and grain cart came instead.
Will you just be using the grain wagons to haul grain from farm to farm to put grain in bins?
+How Farms Work if you guys are looking for another cheaper tractor with horsepower, look at a 8530 :) just a suggestion!!
Shoоoort term loans 200$-1000$ heеre => twitter.com/ebc44ac1da3c839ff/status/809350192776347648 Getting а looooаn from FSA
lol I could barely keep up with the loan officer
good deal ryan mark ireland
what do you keep calling a green card??? that is a strange term to me. is this with the FSA farm loan program?
I love snoberry peace tea, good choice.
Peace tea is the shit!
Do you think someone could get into farming with no experience?
Unless your a millionaire it is hard to get going and be profitable.
+AwkwardYet Get experience first, work for someone to get it. Then get into it yourself is my advice.
+How Farms Work what about green house farming? Would it prove just as difficult. I plan to grow enough for the year or at least half of the year
Evan Tee I won't be doing traditional farming. So no need for expensive equipment
Gеt up tоо 1000$ short tеrm loan heеrе => twitter.com/c903839ed82be8bc0/status/809350192776347648 Gеtting а looooan from FSА
Lots of paper work, guess if you don't pay they come out and set you out on the road.
It's ten years on beginning farmers loan. Beginning farmers and Veterans go to the top of the list for FSA loans and NRCS programs
I am a veteran and still qualify for the beginning farmers programs. I'm on the board of our local soil conservation bord and I try to get our local farmers that qualify to participate in these programs but here in the south east in appilationa people are a little backwards
Darryl Hopper I'm from Pickett County but I sold my farm and now live in Somerset KY. Email me if you need any further information or advice on navigating through the FSA or NRCS.
john_rich3318@yahoo.com
You can get a loan when you have farm or land already but when you are a beginning farmer everyone give you the run around and worst when they see you have an accent they treat you like dirt...even if you honestly like doing farming they think you just got out of the tree and never seeing a vegetable or make a calculation of expenses .
They tell you that you need a year of some kind of training to know the difference from tomato to potato...just saying
They give anyone the run around, and they told me I had to take management classes that they offer but since I have a degree in ag business, I didn’t have to take them.
Hi
Took to long to get to the loint
why didn't u get a grain truck to haul your own grain.
+John Haas a grain truck like 500 bushel truck not semi and hopper.you don't need CDL for one of those
I really wanna be a farmer when i grow up but i have no idea where to start:(..
+John Haas thanks John!
Ur gonna need a fuck load of money and a fuck load of patients
Make a lot of money then start farming lol
+Kyle Price ur gonna need millions
Jack Church I know 3 doctors in my area who farm their own land largest farm being 500acres with about 200 cattle
May 21?
+Zach Thayer These videos got held back awhile.
+How Farms Work oh I didn't know all vids or just the grain cart ones?
The 300,000$ for land is more for a down payment not to just straight buy land
Depends on acreage and part of the country. $300,000 could get you a significant amount of acreage of good producing land in some places.
+Austin Campbell Where in the u.s. do you get a significant amount of land for $300,000?
an 80 which is a smaller parcel here (west central MN) but huge compared to ryans fields sold for 280,000 this spring. 160-200 bushel corn, 35-50 bushel beans, 25 tons per acre sugar beet ground. and thats all tillable land. the biggest down fall was that it has a river splitting it so it can't be farmed in half mile length so that kept the big boys away
+89nissancrawler West Texas. Depending on how much water is available for irrigation on a particular piece of land determines price. Non irrigated land is significantly cheaper than irrigated land. A farm that I had leased sold a few years ago. It had 25 acres of marginal water for drip irrigation, 140 acres of non irrigated land and about 30 acres of low lying pasture that wasn't suitable for farming. It sold for less than $150,000. Prices vary all over the country.
+Austin Campbell Even doubling that, 300 acres of dry land isn't what I would call significant.
I would've had a Calculator in front of me running the numbers while he was.
You got that right. Never trust someone's numbers.
+Jeff Sartain you got that right.
Akwardyet many people can get into farming u just need the land and equitment to start farmingthough
I'm sorry but I did not care for the loan officers attitude and just the general way he spoke to you. He was not very cordial.Maybe its just me.
+Georgia Swampman He was just nervous around the camera, he's a pretty good guy.
Having worked up in story city and Omaha for the last few years i must say that loan officers attitude is pretty much what you are going to get. The guys up there have no sense of humour at all. Its that puritan up bringing i guess. Also my being a foreigner did not help. They let you know if you know what i mean. Yes it is some lovely countryside and some beautiful farms too.
How Farms Work what year is the 4640?
Loan officers should be nervous around cameras, their shady ways are being exposed
I don't think many kids grow up thinking," I want to be a loan officer when I grow up", if you know what I mean.
why do you drive cars instead of a truck??
Nope not at all so relax tuff guy
Not bein tuff just drives me crazy. The other day I see this kid driving a one ton ford like Billy the badass and gets a flat tire. Guess what he did next? He called his daddy because he couldn't change a tire! Haha
+Murk Stalinski yep got them kind all over this area. daddy & grandpa work their whole life to have nice things and their rich bitch kid drives the new truck. I just asked y he didn't drive a truck I guess bcuz I just hate cars.
Watch it,he's going to kick your ass with his un-scuffed work boots.
To save money. 😂
I got a FSA (FmHA) in 1972. Be very, very careful. My FSA loan officer was corrupt to the core. I could not believe one word he said. Today I am 72 and I will never forget the harassment he put me through. He would intentionally leave out production from my farm plan, when I would say something, he immediately tell me if I did not stop talking he would deny my loan. He loved telling me about "his authority". I could easily write a book about FSA loans and farmers' problems. I highly recommend staying as far as possible from these programs. You are better off to own one chicken, free of FSA, than to own one million with FSA help.
What kind of loan should one get for equipment?
WTF That Dude Confused Me
Sheesh that's a small loan
Explains why I paid it off that fall 😂
@@HowFarmsWork that's good you did brother, where do y'all farm?, Obviously by your accent your from Wisconsin. Are you still using fsa for farm operations or have you been able to pull outa the banks?
Every time I get a new loan from FSA I feel bad.A tree gives it life for all the papers we have to sign and all the copies.
Good grief, If I didnt know better I would say you were buying a house. Thats alot of paperwork. funny how people can take out a $50K car loan with a simple credit pull, but buying a $12k grain cart requires you to show tax info and proof of education or experience. Geez
Farming is a bit different because the actual income depends greatly on the farmers knowledge on farming. i do agree that it is a bit excessive for a simple 12k loan though.
Um, you really just compared a worthless college education to actually WORKING? saying that doing the actual WORK... with oh ya COLLATERAL... is um... different than asking for way more money... with no collateral... you must be college educated to be this stupid...
It's because they're federal loans.
I know it sucks but if he defaults on the car loan the bank can repo the car and resale the car , but on land and equipment it's a different ball game
Lot of bullshit for 12 grand
hey what's up um
I think he hit you for more $$ than he said, some 3k if I heard right
Congrats on the loan now your in debt up to your eyebrows welcome to farming.
More like up to his ankles, he's barely scratched the surface getting into debt.
i think he just hit his toenails in debt...
Can't be an American farmer without a subsidy haha .. wouldn't last 3 weeks in Aust.
lol come to Norway. The most subsidized farmers in the world.
College degree lol useless
this video is a month old.