Multiple Business Options...
Let us show you the numbers to make the dream of owning this beautiful horse farm come true. There are many ways to make it work. We can help you find the best way for you. Tell us your plan and we will help you with the numbers for the finance company.
An $825k mortgage with 20% down, the effective loan would be on $660,000.
Using the current bank mortgage rates interest numbers (as of August 2016), the monthly mortgage would be $2900-$3150, depending on the lender. If you divide the mortgage cost by $650/month per boarded horse you will find that just 4.85 horses boarded are needed to cover the mortgage on the highest estimate.
The average rate for a boarding business with amenities similar to New Era Farm's, should be $650 per horse. There are 19 stalls that can be used for boarding. Multiply 19 times $650 and your monthly income from boarders could be as high as $12,350 per month which on an annual basis could amount to $148,200.
To be realistic, you may have a few horses of your own and the barn may not always be full. Please take this into consideration with a possible stall income of $650 times the number of stalls filled. Feed costs are variable so you should deduct that from the total projected income.
Do you need additional help developing a business plan or marketing your services? Not only do we offer great financing, but we have all the resources you need to get started or expand your equine operation.
Janus Ag is proud to offer financing to boarding, training, and horse breeding operations generating at least $10,000 in yearly revenue. Our income requirements for debt service include both farm and non-farm income and can provide funding even if the horse operation is not your primary source of income. In addition, we do not require 1:1 debt service from the property.
Check BankRate.com to find mortgage amortization tables.
The Small Business Development Center (SBDC) can assist in writing a business plan. Your local small business development center provides No Cost Counseling and Low Cost Training services to new and existing businesses. Designed for all stages of business development, themed workshops range from transforming ideas into business plans, to developing growth strategies for existing businesses. The SBDC provides a road map to support and develop small businesses through every stage of their business development.
The Small Business Administration (SBA) (www.sba.gov) has made getting an SBA-backed loan much easier and faster than it used to be. The SBA does not loan money, but they back the loans that are for small businesses. The SBA will want you to present a business plan, projections, etc. The SBA will decide if they will back you.
If they do, the loan process is similar to the normal routes, with the usual lenders' offerings, but you gain clout with the power and confidence of the SBA behind you. The SBA can provide guidance on how to write your business plan. Loans are generally closed within 90 days.
The Small Business Administration provides a wealth of helpful information. Although little on the SBA website applies directly to horse activities, the information is an excellent starting point for anyone seeking financing for a new or expanding enterprise.
Our Realtor Jennifer Anderson can help guide you on SBA and other loan options. Call her cell at: 301-758-0391
We Had a Dream...and It Came True!
Your Dream Can Too!
In 1984 David and I bought a neglected farm with an old double-wide trailer, not a blade of grass, all wire fencing, and we were THRILLED!
The barn and indoor arena provided all the opportunity we needed to open our riding school. We were told there was no business for us here in tobacco and oyster country, and we came anyway. We had very little going for us but the notion that we could do it, despite having to start from scratch in an unknown area. We could not have been more excited!
We opened the doors with two personal horses, two school horses and two boarders - new students and boarded horses followed quickly. In six months we quit our jobs on Capitol Hill and never looked back. Our riding school has won national awards for excellence and enjoys much good will in this wonderful community. The new owners will walk into an established business in a much more populated and affluent area than it was when we arrived thirty two years ago. The lifestyle in Calvert County is one of fresh air, a slower pace and a welcoming atmosphere.
We are happy to share our experiences with potential new owners. There are students who want to continue training here and trainers who want to keep teaching. We have proven the business is here, whether as a riding school, a boarding business or any of the many other options that this farm could support.
--Karen and David
Schedule an Appointment
Jennifer Anderson of EXIT By the Bay Realty would love to give you a tour of the farm. Give her a call to schedule an appointment. Her direct number is:
"Equal Housing Opportunity"