Equipment Loans
Equipment loans for farm machinery put the title in your name from day one. Fixed payments, predictable terms, and no mileage or use restrictions. We finance.
Buying a machine outright means you own it the day you start the engine, and a farm equipment loan keeps it that way. The title goes in your name, there are no hour limits or use restrictions to worry about, and when the note is paid off the machine is yours free and clear. That simplicity is why most producers doing a straightforward purchase reach for a loan rather than a lease, and it is the backbone of what we arrange for row-crop and livestock farmers across the country.
We work on purchases of new and used machinery, from Tractors and grain combines to Planters, grain bins and drying systems, and pull-type implements. If the piece of equipment is part of a working farm, chances are we have financed it or something very close to it.
How Farm Equipment Loans Are Structured
An equipment loan works the same way a vehicle loan does, scaled up for the size of farm machinery. The lender advances the purchase price (or a portion of it), places a lien on the title, and you make fixed monthly or seasonal payments over the term. When the final payment clears, the lien releases and ownership is unencumbered.
Our program starts at $50,000, with the sweet spot running from $100,000 to $150,000 and higher. That range covers single units of meaningful value: a quality used row-crop tractor, a late-model sprayer, or a combine header setup. Larger purchases, such as a complete fleet update or a new machine in the $400,000-plus range, work through the same process with an additional look at tax returns or financial statements depending on the lender.
Terms typically range from three to seven years. Shorter terms build equity faster and cost less in total interest; longer terms reduce the monthly payment and keep more cash available during the season. The right answer depends on the machine's expected useful life, your cash flow pattern, and whether you are farming through a lean stretch or a strong market.
Refinance Programs
Farm Application-Only Financing
Finance farm equipment up to $400,000 with just an application and recent bank activity. No Schedule F package, no CPA statements, no long.
Bad-Credit (B/C) Farm Equipment Financing
Equipment financing for farmers with challenged credit. We work with B and C credit situations, low scores, prior bankruptcies, and short.
Equipment Leasing
Farm equipment leasing keeps payments lower and lets you upgrade at end of term. We work with tractors, combines, sprayers, and more.
New Versus Used: Both Work
New equipment loans are straightforward. The dealer has a clear price, the machine has no hours or condition questions, and the title is clean. Rates on new machinery are often competitive because the collateral is easy for lenders to value.
Used equipment loans require a bit more work on the collateral side but are equally common in our volume. The lender wants to know what the machine is actually worth, which means the year, hours, condition, and recent comparable sales matter. A well-maintained late-model combine with documented service history often qualifies for the same terms as a new entry-level machine because the risk profile is similar.
Producers buying used farm equipment through a dealer get the benefit of dealer recertification and sometimes a limited warranty. Private-party purchases are also fundable; we have a specific program for private-party equipment purchases that handles the paperwork differences. Auction purchases follow a similar path with a few extra documentation steps around title verification.
Beginning farmers often start with a used purchase because the entry price is lower and the loan term stretches the payment to something the early seasons can support. We have helped a number of first-generation operators finance their first tractor or first combine this way.
Farm Refinance Questions
Down payment requirements vary by lender, equipment age, and credit profile. Some lenders advance 100 percent on new equipment to strong-credit borrowers. More commonly, a down payment of 10 to 20 percent is expected, particularly on used equipment or B/C credit situations.
Most equipment loans do not carry prepayment penalties, but it varies by lender. We will tell you the prepayment terms before you sign so there are no surprises if you have a good harvest and want to retire the note early.
A loan puts the title in your name and builds equity as you pay. A lease means the lender owns the machine during the term and you pay for use. Loans are typically better for equipment you plan to own long-term; leases can offer lower payments and flexibility at end of term.
We handle that. The seller's lien is paid off at closing from the loan proceeds. What you need from the seller is the name of their lender and the payoff amount so we can structure the transaction correctly.
Our program starts at $50,000. Below that threshold, a local bank or credit union operating line is usually a better fit. At $50,000 and above we have access to lenders who specialize in agricultural equipment and move quickly.
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