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  • From: Marcie Rosenzweig <fullcircle AT jps.net>
  • To: market-farming post <market-farming AT franklin.oit.unc.edu>
  • Subject: Debt Financing
  • Date: Mon, 9 Apr 2001 06:32:07 -0700


Hi All,

Not accruing debt is an obvious way to stabilize your business but it's not
always possible, especially when one's business begins to grow. Jeff is a
great success story, but he clearly needed to borrow to grow his business.
We financed our tractor and spader, and paid it off with the receipts from
the increased business.

I'm "coaching" ( I hate the word "teaching;" in this situation as it
implies I have some superior knowledge or position over my class
participants) a group of farmers in business planning and management skills
and we just finished the financing section. My orchardists can lose an
entire year's crop to foul weather. The would be unable to continue
farming if they were unable to get operating capital for the next season.

By the way, the USDA Farm Service Agency has loans available for beginning
(more than 3 less than 10 years on the land) limited-resource, and
socially-disadvantaged farmers. These funds are designed to provide loans
to folks the other lending institutions won't touch. You still need a
business plan with all the financials, but the rates are good as are the
payment terms. For you second career farmers, minority and women farmers
or those with under $125,000 in gross receipts or under $20,000 in
household income this could be your best avenue.

Marcie

Marcie A. Rosenzweig
Full Circle
Auburn, CA






  • Debt Financing, Marcie Rosenzweig, 04/09/2001

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