Farm Business Plan

ormondeboy3

Have to pull one of these together for a loan application. Any pointers or templates out there I could use to put shape on it?

Sam Kade

What enterprise are you in?

OverRide

Start with a separate rough sheet with your actual plans,your expected positive outcomes
End with where you expect to be not in 5 years time but 7 to 10 or 15 if that's the loan term
Map out a road plan as to where the loan payments will be coming from or project enough profit for the repayment capacity you'd need

When you've that done neatly bullet point it in the actual business plan document with brief explanations here and there being as concise as possible

Believe in your plan

farmerjj

Do you need a physical plan nowadays to hand to the bank? I always just went in with a copy of the accounts and then ran through what I needed the loan for and where I saw the business going.

ormondeboy3

Sam Kade wrote: »

What enterprise are you in?

Starting out. First year involved, income will be GLAS, selling of grass, and BAsic Payment for the first couple of years. Expenditure will be slightly less than income for a few years, have handful of cattle but intend putting most of income back into farm set up: spraying, reseeding, yards and sheds etc. Small holding. Loan is to straighten out a few stone sheds, roofing, doors, guttering etc. about 25k.

Have off farm income.

Timmaay

ormondeboy3 wrote: »

about 25k.

Have off farm income.

I'm surprised they even want a business plan so ha, or put it this way, they certainly won't put much weight to it, they will probably judge you on how much of a bps and your salary, which will repay most the loan.

Timmaay

Timmaay wrote: »

I'm surprised they even want a business plan so ha, or put it this way, they certainly won't put much weight to it, they will probably judge you on how much of a bps and your salary, which will repay most the loan.

And actually did you think about the likes of a "home improvement loan". Could be alot easier to get money that way ha.

ganmo

ormondeboy3 wrote: »

Starting out. First year involved, income will be GLAS, selling of grass, and BAsic Payment for the first couple of years. Expenditure will be slightly less than income for a few years, have handful of cattle but intend putting most of income back into farm set up: spraying, reseeding, yards and sheds etc. Small holding. Loan is to straighten out a few stone sheds, roofing, doors, guttering etc. about 25k.

Have off farm income.

if it was me I'd say the loan was for the reseeding and cattle handling etc and put the farm income into the tidying up.
Reasoning being the loan will be put to use with things that will improve production and efficiency on farm

RightTurnClyde

Timmaay wrote: »

And actually did you think about the likes of a "home improvement loan". Could be alot easier to get money that way ha.

If goes home improvement, he might have a slightly high interest rate, but the interest can't be written off against tax. Swings and roundabouts.

Sam Kade

Did anyone ever draw up a plan for a loan that actually went to plan?

RightTurnClyde

Sam Kade wrote: »

Did anyone ever draw up a plan for a loan that actually went to plan?

:):). Not here anyway. Biggest problem I have is remembering the sh1te I told the bank manager 12 earlier.

TITANIUM.

ormondeboy3 wrote: »

Sam Kade wrote: »

What enterprise are you in?

Starting out. First year involved, income will be GLAS, selling of grass, and BAsic Payment for the first couple of years. Expenditure will be slightly less than income for a few years, have handful of cattle but intend putting most of income back into farm set up: spraying, reseeding, yards and sheds etc. Small holding. Loan is to straighten out a few stone sheds, roofing, doors, guttering etc. about 25k.

Have off farm income.

I don't think that you'll need a business plan for that. If you arrange to meet with someone in the bank to take you through the agri business loan proforma. It'll be just a matter of filling in the blanks. There's even a section where you imput the type of enterprise you operate. I'd say that you would be able to complete a loan application of this type online.
With your OFI there should be no bother.

Sam Kade

RightTurnClyde wrote: »

:):). Not here anyway. Biggest problem I have is remembering the sh1te I told the bank manager 12 earlier.

Same here, of course if you want a loan it's only human nature to beef the plan up a bit I did one two years ago for getting back into milking the only query the bank man had was that I had costs at 19c/l he reckoned they'd be closer to 22c/l he must have went through the plan with a fine tooth comb probably sitting in his office all day thinking I better ring this fella with a query to make it look S if I'm working.

Sam Kade

TITANIUM. wrote: »

I don't think that you'll need a business plan for that. If you arrange to meet with someone in the bank to take you through the agri business loan proforma. It'll be just a matter of filling in the blanks. There's even a section where you imput the type of enterprise you operate. I'd say that you would be able to complete a loan application of this type online.
With your OFI there should be no bother.

Meet someone in the bank? I went into my branch to inquire about a loan and the one over my account nearly had a fit that I didn't make an appointment. She some how took time out of her hectic schedule to deal with me. She rang Naas put me onto them to ask about the loan while all the time she was doodling with a biro.

TITANIUM.

Sam Kade wrote: »

Meet someone in the bank? I went into my branch to inquire about a loan and the one over my account nearly had a fit that I didn't make an appointment. She some how took time out of her hectic schedule to deal with me. She rang Naas put me onto them to ask about the loan while all the time she was doodling with a biro.

Lol mighty bank you have there.
I have to say my branch are very good, very accommodating.
I still think there's no need to be making out a big business plan .

Maybe your local bank staff just don't like you Sam?

Sam Kade

TITANIUM. wrote: »

Lol mighty bank you have there.
I have to say my branch are very good, very accommodating.
I still think there's no need to be making out a big business plan .

Maybe your local bank staff just don't like you Sam?

It's AIB and thery're conducting all the loans from Naas. I had a run in with the one over my account last time I met her a right narky b1tch she is. They don't even want people going to the counter anymore just do your business with the slot machine in the corner :mad:

Grueller

I left BOI over the kind of sh1te that sam is describing. I went to Ulster bank and have to say they are much better here anyhow. You always meet a real person.