How do I finance an orchard or grove — almonds, citrus, apples?

Question

Turnrow Capital · Accepted Answer

Orchards are financed like vineyards: the loan is a percentage of appraised value, and the trees, their age curve, and the water supply drive that appraisal. Turnrow lends up to $1.5M at up to 70% LTV on producing orchards with no financials required.

Tree age is the value curve. Almonds typically produce commercially from roughly year 3 to year 25; citrus and apples run longer. An appraiser discounts blocks approaching replant age, because the buyer inherits removal and redevelopment costs. Ask the seller for planting dates by block before you price the offer.

Water security dominates orchard underwriting, especially in the West. District water with reliable allocations, a permitted well with a current pump test, and — in California — the property's standing under SGMA all move the appraisal. An orchard with questionable water can appraise near open-ground value regardless of how the trees look today.

Yield history helps but is not required for asset-based lending. Three years of production records strengthen the appraisal; their absence just means the appraiser leans harder on comparable sales and a physical inspection of tree condition.