Monthly Archives: April 2020

Farm Loan FAQs

farmers

Have you ever considered a farm loan, but weren’t sure what it involved? Good news – we’ve got the answers! Keep reading to learn more. 

  • What is a farm loan used for?

A farm loan is for farmers or ranchers who want to purchase, sustain or expand your family farm but aren’t able to get credit elsewhere in order to do so. Some of the possibilities include purchasing livestock, equipment, feed, land or more buildings. 

  • What’s the difference between a direct loan and a guaranteed loan?

Direct loans use government money and are serviced by FSA. Credit counseling and supervision are also provided by FSA to help applicants with evaluation. On the other hand, guaranteed loans are serviced by commercial lenders, like banks. FSA guarantees up to 95% of the lender’s loan against loss.

  • What are the different types of loans?

There are many different types of loans that you need to decide between before applying. These include farm ownership loans, operating loans, emergency loans and conservation loans. For more information on what each of these loans includes and which loan you should apply for, contact Heartland Bank.

  • What’s a business plan, and what does it include?

A detailed business plan is submitted when applying to get an FSA loan. This plan shows your goals and plans for the future, and that you’ve put serious thought into them. Some things your business plan would describe includes your vision for your farm/ranch, your assets, your marketing plan and the planning of your expenses.

  • What happens after my application is submitted?

Your application will be reviewed and soon after you’ll be informed of any information you missed and need to include. Once all documents are received and reviewed, FSA will then notify the lender within 5 days. 

There’s a lot that goes into applying for a farm loan, but we’re here to answer any questions you may have. Contact your local Heartland Bank lender to get started today!

Renovate Your Home Without Breaking the Budget

construction

Are you ready to mix things up in the design of your home, but not ready to burn through your precious money to do so? We know some tips and tricks that will allow you to revamp the look of your home without going overboard on price. Keep reading to find out how!

Improve the Lighting

The lights in a room can drastically affect a room’s tone. Swapping out those harsh, flickering lights for softer, warmer lights will give your room a more comforting feel. Another lighting trick is to hang mirrors in rooms that need to be brightened up. Mirrors make a room look bigger and increase the light throughout the room.

Removable Wallpaper

Although wallpaper might’ve had a bad reputation in the past, the new, improved and modern versions of removable wallpaper make changing your space affordable and simple. The best part is that it goes on easily and comes off with no damage to the walls, allowing you to change up a room at the snap of your fingers.

New Cabinet Handles or Faucets

Updating the handles on your cabinets or the faucet of your sink can make a world of a difference. New and modern handles have the ability to completely change the look of your kitchen or bathroom, and they aren’t a big investment. Replacing your old kitchen faucet with a sleek, contemporary one can give your kitchen a whole new look.

Rearrange, Don’t Repurchase

You don’t have to buy all new furniture in order to make your living space more attractive. Search the Internet for furniture setups that fit your room, and try rearranging your furniture to match. Sometimes something as simple as changing an item’s location could improve the look of a room.

Paint the Front Door

Upgrade the outside of your home by putting some primer and a few coats of exterior paint on your front door. You could choose a bold color that would catch a passerby’s eye, like red, or go for a modern look like black. It’s also a simple fix to add a door knocker or update the handle. Research suggests that updating your front door can increase a home’s value as much as $8,000!

We hope these money-saving renovation tips will allow you to give your house an upgrade without burning through your wallet. More questions about renovation on a budget? Give us a call and we’d be happy to help.