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n. Illinois | lots of options if you find the right banker/lender.
20% down with some other collateral pledged like farm equipment of vehicle that have no other lien.
Or using your non farm income set it up with monthly payments with a quick repayment 3 years or less and they may do it with only the cattle.
A reasonable term is 3-5 years, If you need to stretch it out for 5-7 years you need to pledge more collateral than just the cattle and/or pursue a guaranteed loan from FSA (banker does the work on the guarantee)
your specific situation will make all the difference | |
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Financing Cows/Heifers
