Article provided by: Lexon Mortgages Plus Inc.
Canadians often ask FarmLender.ca why rural mortgages are so hard to obtain. The answer is not a simple one, but it’s easy to see some of the reasons why a bank might not be as interested in lending money for agricultural ventures as another institute might be. FarmLender.ca has always been interested in helping Canadian farmers get the funding they’re looking for at competitive rates that allow them to save money over the years.
To a banking institution, your small hobby farm may not look like a great investment, but that’s only because they don’t have the time to look more closely into what you’re doing and why. Farmers who trust their funding to banks will invariably be disappointed almost every time. Now consider the benefits of doing business with FarmLender.ca:
- Experienced agents from FarmLender.ca are experts at getting their clients the rural mortgages they’re looking for, with rates that are highly competitive. It’s through working with more than 50 lenders that we are able to find rates and options that meet the needs of our clients.
- If an inconsistent cash flow has put you out of favour at your bank when requesting a loan, you may be surprised to learn that FarmLender.ca’s partners will not hold your current financial circumstances against you when they consider a loan.
- Has a lack of collateral excluded you from your banker’s good graces? FarmLender encourages you to contact us at 888.393.8686 to find out how you can obtain capital for your farming operation through their efforts. Whether you are looking to expand your operation or just manage the day to day flow of business, there is funding available for you today.
- Perhaps the biggest obstacle in the way of farmers getting rural mortgages is their credit score that follows them around for years and seeks to dim every opportunity for growth. FarmLender.ca works with many lenders who will lend to borrowers with poor credit and even no credit at all. Of course, having a good credit score will result in a better rate, but isn’t it encouraging to know that even if you don’t possess a good score, you won’t be excluded from obtaining financing?
- Are you lacking in an operating history that is impressive to the lenders you’ve spoken to up to this point? If your lack of a solid track record has resulted in your being rejected for a farm loan, bring your business to FarmLender.ca and find out why we are viewed as the go-to broker for rural mortgages.
Banks like to invest in large and thriving industries that project a strong presence the market. Your small farm may not attract their business but that doesn’t mean every lender will view you in the same light as your bank does.
Contact an agent from FarmLender.ca by calling 888.393.8686 to find out about our rural mortgages and how you can obtain the financing you need for your operation. You’ll be glad you called the lending broker that welcomes all applicants, and strives to meet the needs of every single client.