Short term loans for farmers: What are agricultural loans and how do they work? | Mint
Source: Live Mint
Agricultural loans enable the farmers to engage in seasonal activities like animal farming, purchase of land or buying of essential equipments. Short term loans are specifically designed to meet the emergency needs of farming operations for crop production, land preparation, storage and transportation with a view to making the operation of the farming operation smooth.
In conclusion, short term loans can be a great way to get financial assistance to increase your crop production. However, before you apply for the loan, you must make sure that you plan your repayment and borrow the amount that you can afford and repay easily. This way you can avoid any financial burden and maintain a healthy credit profile for future borrowings.
(Note: Raising a loan comes with its own risks. So, due caution is advised)
