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business loan for agricultural land

  • 21-09-2018 10:15pm
    #1
    abnormalnorman
    Registered Users, Registered Users 2 Posts: 453 ✭✭


    hi. im about to buy 18 acres. iv no other land. will the bank give me a business loan for this? spoke to a bank rep today and he said i would hardly get a business loan as iv no other land and hard to justify a business start up with 18 acres . is this correct? im only looking for 60k loan.


Comments

  • #2
    duffysfarm
    Registered Users, Registered Users 2 Posts: 856 ✭✭✭duffysfarm


    It's all about repayment capacity. What are the repayments and can you afford these? Also what is the loan to value ?


  • #3
    abnormalnorman
    Registered Users, Registered Users 2 Posts: 453 ✭✭abnormalnorman


    duffysfarm wrote: »
    It's all about repayment capacity. What are the repayments and can you afford these? Also what is the loan to value ?

    thats for that duffysfarm. . . .but the repayment capacity is not the issue. im asking if i should be eligible to apply for a business loan for such a purchase.


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