Plan to make money this summer by using your land assets for tourism. If you are an agricultural landowner, consider choosing operations covered by the 2008 agritourism limited liability law. A copy of the law and an explanation of the law can be found at www.lsuagcenter.com/agritourism.
Starting a summer business in agritourism is a great way to teach children the “ABC’s” of starting a small business. Keep the investment small and engage family members to be employees of the enterprise and to share in the profits.
If you need start-up money, consider self-financing or contact your Farm Service Agency about applying for a loan. In January of 2013, USDA announced microloans for qualifying operations. These loans are repayable at a rate of 1.25 percent monthly with a maximum loan amount of $35,000.
For those who qualify, the loan can help begin or enhance an existing operation. The loan application process has been shortened with a more simplified application when compared with traditional farm loans.
According to a recent news article released by USDA, these loans can be used for start-up expenses such as hoop houses to extend the growing season, essential tools, irrigation, delivery vehicles, and annual expenses such as seed fertilizer, utilities, land rents, marketing and distribution expenses.