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Thread: low % loans??

  1. #1
    Join Date
    Dec 2007
    Location
    alsteadn.h.
    Posts
    63

    Default low % loans??

    looking to upgrade equipment. anyone know of any farm/ maple producer loans. other than personal loan rates ?/
    3x8
    kubota m5040
    duramax timberjack 380
    2500 taps 10k more

  2. #2
    Join Date
    Aug 2006
    Location
    Andover NH
    Posts
    2,074

    Default

    try Farm Credit East- they speak maple...
    Eric Johnson
    Tucker Mountain Maple Co-op
    1400 taps in 2013
    2.5 x 8 CDL pellet arch and Smokey Lake pans
    Lapierre 600 RO
    Member of Andover/Salisbury Maplehaulics anonymous
    www.tuckermtn.com
    pALS

  3. #3
    Join Date
    Nov 2005
    Location
    smithville flats ny near binghamton
    Posts
    600

    Default

    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
    shrunken producer, from 8,000 taps to 4,000 to 5800 to 9500 to 11,000 vac
    5x16 woodchip fired evaporator with 5x10 max flue and 5x6 revolution front pan
    CDL 20+ RO
    Double 10"filterpress

    sp-11, bb2, airtech L63, L160, L230 vac pumps
    CDL low profile electric releaser
    MES 8000 electric releaser
    CDL 4000 tap mechanical releaser

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