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 Welcome to the Goodlife Online.

For several years now, we at The Good Life have been growing, rasing and consuming our own produce, produce that has been grown  and raised organically and with care for the our enviroment. With this website we hope to share our journey to a healthier life and inspire other to take the same path.
 
 
      farmer loans
 

Farming Finance and Rural Credit

finance to buy a tractor

What Is Farming Finance? 

A term we use to describe all form of agricultural and farm finance options in the country and rural business sector, sometimes called agricultural finance.

This can also be broken down into more specific terms such as equine, horticultural or land finance.

Finance can be provided for many things such as land, buildings, working/non working farms.

Rural finance can be for: 

  • Caravan parks 
  • Properties with agricultural restrictions. 
  • Land 
  • Buildings 
  • Working farms 
  • Non-working farms 
  • Nurseries 
  • Garden centres 
  • Small holdings 
  • Estates 
  • Fisheries 
  • Farm shops 
  • Holiday complexesfarms finance made easy 

Basically every type of rural situations.

When and why consider farming finance?

Funding for a new property or property expansion, repayment of an overdraft or loan, business start up assistance, purchasing new equipment or machinery and any other type of development aimed at business growth.

Many companies offer rural credit and farming finance but few completely understand it, there are some companies who deal with nothing but rural credit & agricultural funding and these would be the best place to turn for financial help, this way you can be assured of a professional and expert advice at all times.

Things to Think About Before Applying For Farming Finance

Planning

Purchasing a farm or agricultural property may require a special type of financing. Securing a mortgage from a bank for a house is pretty straightforward in today's climate, however financing a farm property can be a little trickier and may extra preparation and planning.

Credit

Your credit score is very important when it comes to applying for finance and will be a deciding factor in whether your application is successful. No matter what specific use the loan is for or which institution you are applying to seek financial assistance from.

Every lender will need to feel confident that they will be paid back the full cost of the loan so checking your credit score and history will be one of their first steps in processing the application.

Property Classification

Make sure you verify the type of farm land classification before applying for rural credit and financial assistance. When searching for lenders, you will need to match the type of financing provided by the lender to the type of property/land you wish to finance.

The land may be classified as a small holding, private farm land, commercial farm land or agricultural farm land. Check the official government documentation you hold for your property and make sure you find a lender who specialises with that specific type of property finance. Some lenders may only deal with commercial farm land and not small holdings, while others may provide assistance with every types of property.

 

 

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