“Country Living understands the value of rural properties.”
How can you find financing for a part-time farm?
James and Artea Evans had wanted to purchase a horse farm for years. So when a 21.3-acre equestrian facility, complete with a 50-stall barn and large indoor and outdoor arenas with 30 paddocks went up for sale, they found themselves in a bind looking for financing from traditional lenders.
“We reached out to a local bank and they said they wouldn’t touch the property,” said Artea. “They weren’t comfortable with the business.” Luckily for the Evans, their realtor recommended looking into Farm Credit East’s Country Living loans.
“Not only was our mortgage specialist great to work with, but the Farm Credit East appraiser also ensured that the property was financed correctly by valuing excess acreage and outbuildings,” added Artea.
How we helped
Country Living offered a way for James and Artea to finance their part-time farm and equestrian facility, which gave them the ability to turn their opportunity into a thriving business. “We’ve created an environment that is inviting to boarders,” said Artea. “We put on several horse clinics, as well as host lessons with top-notch trainers.”
James loves the part-time farm aspect of his life because it gives him something to do in his spare time. “If I’m not busy, I go a little crazy. That’s what makes this farm perfect,” said James. “I can come home from work and tinker, and I love that.”