Loans for farming companies

There are many areas in Ohio that are farmland, and even more that are wasteland by some. Ohio is a massive place, and it is true that there is a massive agricultural market within Ohio. That does not mean that the state and those who live in it are only interested in farming, but this customer is someone who had a massive idea for the improvement of farming in the state itself.

If you have been to Ohio, it would be fair to say that the farming and agricultural industry is still behind of many neighbouring states and countries. The techniques are considered outdated, and the machinery and equipment that some continue to use is outdated too. Many farms need to update or completely upgrade their equipment and tools that they use.

This customer was a farmer who had realised that due to the size of his farm, and how much potential was still existing, he needed to upgrade. He needed his tools to be more efficient, he needed to hire people that would be more effective or specialized at their trade and make the farm more profitable.

So, he took a sizeable loan of $35,000 to upgrade most of his equipment, and farmhands who were aware of how to use the new equipment were kept on. Those who weren’t able, were let go and replaced with those who could.

What he essentially decided to do is update the farm completely. The harvests weren’t necessarily better, but the produce was. It was of a higher quality, and more plentiful. Now, most farmers know that just because a singular harvest is good, doesn’t mean the rest will be. It has only been one harvest since he opted for the business loan, but as we know the farm is already growing and more land is being purchased to produce a higher quantity.

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