Hobby Farm Loan

Hobby farm loans:
Hobby farms -- from which the total value of goods sold and government payments amounts to $10,000 or less -- account for some 58 percent of all U.S. farms, according to the National Agricultural Statistics Service (NASS). Despite their hobby status, some of these hobby farmers need a hobby farm loan.

One of the reasons for the boom in hobby farming is that there are some tax advantages to owning a small farm. Thus, some gentleman farmers simply choose to lease their farmland and still capture the tax savings that come with hobby farm status. For others, hobby farming is an enjoyable break from city life and a welcome extra slice of yearly income. For those trying to do some actual farming, there will perhaps come a need for a hobby farm loan.

In general, the best way to approach this is to treat your hobby farm like any other small farm and approach lenders with a sincere request for a simple "small farm loan". In the U.S. the federal government is one of the best sources for small farm loans. See our page on the FSA for more information on how to apply for a hobby farm loan.