| Posted by: BMB Mar 3 2003, 12:54 AM |
I am interested in purchasing a horse property. It would be used not only for my permanent residence but also for income purposes. I want to board horses, as well as offer services such as riding lessons and break and training horses. I've heard about free government loans, low and no interest government loans and grants. Who do I contact to start the process? A real estate agent? A loan counsultant? I went to a website and all it did was offer packages for up to $60 to help. I want to go right to the source.
Can you help? |
| Posted by: loanuniverse Mar 6 2003, 01:01 PM |
Hello BMB:
Sorry that it took me a few days to get back to you, but I have not been able to check the website for posts. Regarding your situation, I think that it has to be approached from a small business type of loan. My personal experience has been with the SBA and being that the SBA does not give grants, I am going to approach it as if the objective is to get a loan guaranteed by the SBA from a financial institution. Be advised that my experience with government programs is limited and that there might be other organizations out there that provide financing to a rural/agricultural business such as the one you want to start, but I am not familiar with those being that I work in a urban setting.
The first thing you will need is a business plan. It is not necessary for you to pay anyone to prepare one. Nevertheless, you will need to create something professional looking that indicates how serious you are about this venture. You can start by reading my article on http://www.loanuniverse.com:/plan.html. It is not the best in the web, but there are a lot of resources on that subject.
After you are done with the plan, which of course must reflect the financing that you are thinking of getting, it is time to go talk to a commercial lender that does SBA guaranteed loans. You can usually find advertisements for them in the business section of your local newspaper or the yellow pages. I would personally contact commercial banks first and then other financing companies.
I hope this helps.
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