By Jonathan Laporte
Making your first request for a farm loan is an important moment for you as a young or beginning farmer. It’s when the whole idea of running your own business truly becomes real for you. It is something you have thought about and worked hard for a long time to achieve. You want the lender to understand and acknowledge your commitment as well as be impressed with your ideas for the farm. Simply put, you want that lender to say, “yes!” to your plan and make an investment in your farm.
How can you provide assurance to the lender and convince them to make that investment?
Introducing the latest bulletin in the Beginning Farmers DEMaND (Developing and Educating Managers and New Decision-makers) series entitled:
How to Motivate Your Lender to Say, “Yes”. In this bulletin, MSU Extension provides a look inside the lending process to understand how it works and what the lender wants to see. Most importantly, how you can prepare to discuss the details of your farm business that encourages confidence and motivation for the lender to say “yes” to your request.