How Business Loans Can Help You Expand Your Dairy Farm?

Features and Benefits of Availing a Dairy Farm Loan 

The following dairy loan features and benefits make them an appealing funding option for dairy farms:

• These loans are specifically designed to improve and modernise dairy farms and their infrastructure.
• Using the ample loan amount to outfit the farm with the latest equipment and technology increases its efficiency and boosts revenue.
• Reputable financial institutions like Hero FinCorp offer loans for dairy farm.
• The Business Loan application process is quick, transparent, and hassle-free. Simply fill out an online application form and submit the necessary documents to apply. Once the lender reviews the application, they approve the loan and disburse it to your bank account within a few hours.
• Another advantage of a dairy farm loan is its flexible repayment period, up to 60 months, allowing you to choose a tenure with budget-friendly EMIs.
• You can avail of an ample loan amount of up to Rs 40 Lakh to cover various expenses related to the dairy farm.
• The dairy farm loan interest rates are nominal, reasonable, and easily manageable.

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Eligibility Criteria for Dairy Farm Business Loan 

Fulfil these eligibility criteria to apply for a dairy farming loan at Hero FinCorp:

• Age: 25 to 65 years 
• Occupation: Self-employed professionals, self-employed non-professionals, sole proprietors, entities like LLPs, private limited companies, trusts, and partnership firms.
• Business Status: At least five years of experience in the existing business
• Minimum Income: While most lenders have a minimum income or turnover requirement, Hero FinCorp has no such eligibility criterion

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Purpose of Availing of Dairy Farm Loan

You can use a cow farm loan to fulfil various purposes, including the following:

• Establishing or expanding a dairy farm
• Purchasing cattle for small dairy farm units
• Rearing young calves and cross breeding cows and buffaloes
• Buying machinery and equipment like chilling units, vans, automatic milk collection machines, dispersal systems, etc.
• Growing cattle fodder and fulfilling other financial requirements 
• Constructing, renovating, or expanding cattle sheds
• Installing cold storage units
• Purchasing chaff cutters, dairy dispensation machines, etc. 
• Paying for transportation services for processed dairy products 

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How can a Business Loan help you for a Dairy Farm?

Here is how a cow farm loan from Hero FinCorp can help you manage a dairy farm business:

• Ample loan amount of up to Rs 40 Lakh to cover various expenses
• Competitive interest rates, starting at 14%, keep the EMIs affordable
• Flexible repayment terms for efficient EMI management
• No profit or ownership sharing
• Savings kept intact
• 100% digital loan procedure
• Instant approval and quick disbursal

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How to apply for Business Loan Online?

Are you looking for a Business Loan to set up or expand a dairy farm? Follow these steps to get the required funding from Hero FinCorp:

• Visit the Hero FinCorp website
• Go to the Business Loan page and click Apply Now.
• Fill out an online application form and submit the necessary documents.
• Enter your desired loan amount and select a suitable repayment tenure.
• Receive a reference number for future use.
• A representative will get in touch for more information if needed.
• Get a loan offer, and accept it to get disbursal directly into your bank account.

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Conclusion

A dairy farming loan can be the best funding option to manage a dairy farm business, improve its conditions, or expand its operations. Apply for the required funding at Hero FinCorp and get one instantly. Here, the interest rates are reasonable, repayment terms are flexible, and you have no usage restrictions to utilise the loan amount. 

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Frequently Asked Questions

1. How much is the loan amount for a dairy farm?

At Hero FinCorp, you can borrow a dairy loan of up to Rs 40 Lakh to cover your farm-related expenses.

2. Is a dairy farm eligible for a Mudra loan?

Since the purpose of a dairy farm is to generate income and employment, it is eligible for a Mudra loan from the government.

3. Which type of loan is a dairy loan?

The dairy loan is an unsecured Business Loan that lending institutions provide.

4. What are the interest rates for Dairy Farm Loans?

Although dairy farm loan interest rates are reasonable and competitive, they largely depend on your credit history, business vintage, repayment capacity, DTI ratio, and other factors.

5. Do I need collateral to secure a Dairy Farm Loan?

A dairy loan is unsecured, making it easily accessible without any collateral, guarantor, or security.