low % loans??

[drake1271]

looking to upgrade equipment. anyone know of any farm/ maple producer loans. other than personal loan rates ?/

[tuckermtn]

try Farm Credit East- they speak maple...

[lew]

Yep. Farm Credit East. Very easy to deal with. But, like any other financer, they want to see that you are making a profit from the business if you expect a business loan. that's where it pays to show your profits and losses from the business. My rep. was surprised that I actually show a profit, he said ( and I agree) that most syrup producers sither are always showing a loss or not showing any income from the syrup trade. This makes it difficult for them to give a loan against some thing that isn't profitable or doesn't exist.

they will also do a secured loan against your farm or home. I am paying 4% right now on my last loan