Are you interested in owning your own farming operation? If so, you may have already learned that there are a considerable number of start-up costs to take into account. Independent farms require the harmonious interplay of a wide variety of technologies and systems.
Oftentimes, aspiring farmers will have their business goals stopped in their tracks by the high costs of implementing those necessities. Thankfully, ag financing options are available to assist farmers with the coverage of various start-up costs..
In this article, we’ll elaborate on the expenses that need to be accounted for, and how funding programs can help.
What Are the Start-Up Costs that Need to Be Taken Into Account?
Before we examine funding programs, let’s first review the costs of starting a farming business.
As we mentioned above, an independent farming operation will require you to invest in some indispensable technologies and systems. Each of those will come with their own construction, installation, and training expenses. Here are some of the systems and technologies that will need to be purchased and implemented:
- Irrigation
- Machinery
- Soil
- Cooling systems
- Property
- Product packaging
- Tools and Equipment
How Grants & Funding Programs Can Help
Keep in mind that the size, scale, and price of each of those items will vary from farm to farm. Additionally, this is by no means a totally comprehensive list of start-up expenses. In other words, some aspiring farmers will have to invest in more types of infrastructure than others.
But here’s the good news: Through grants and funding programs, you can dramatically reduce your farming operation’s start-up costs. Here are a few popular programs and resources that we recommend looking into:
- USDA FSA Loans
- Center for Rural Affairs
- National Council of State Agricultural Finance Programs
- MSF Agriculture loans
Learn More About Loan Programs and Ag Financing Today
Agricultural financing (ag financing) is another great way to access some extra start-up capital for your farming operation. In order to secure ag financing, you’ll need a healthy credit history, specified farm construction plans, and the help of an expert lender.
At MSF Agriculture, we’re committed to pairing farmers with the financial assistance that will be best-suited for their future business. To learn more about grants, funding, and ag financing, please contact our office today!