A huge benefit of owning a country home or farm is that your property can be used for whatever you like. Whether you want to use your land for a place where you can get away from the stresses of your everyday life or are looking for a bit of extra income, both large and small acreage farms offer a great number of options and opportunities for many people.
How to Make Money with Land
If you are interested in making a little bit of extra money on the side from farming on your land, you might experience some obstacles to making this a reality. These agricultural barriers to entry can include finding the financing to expand the land that you own, any possible financial impact of crop failure or issues with product storage.
Financial Incentives Available for Farmers
Now, the Farm Service Agency (FSA), a division of the United States Department of Agriculture (USDA), has incentives for those looking to expand their farms. These financial incentives can help local farmers for what the FSA has come to term “local producers”.
These financial incentives include new low-interest microloans for operations, insurance against crop failure and assistance in building facilities where crops and other items can be stored. The purpose of these loans and other financial services is to help stimulate the economy and aid those looking to make their farms profitable.
Loans for Farmers and Farming
The loans that are available to farms run a wide range of options, and people can qualify for financial assistance from $1,000 to $50,000 depending on their need. The microloans are great for those who are just getting into farming for the first time.
If you are interested in finding a loan for your country home, be sure to contact a loan officer from Heritage Land Bank today! Check out our website to see other types of loans and financial services that Heritage Land Bank offers.