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Jan 22, 2024
Purchasing equipment can be prohibitively expensive and capital-intensive, especially in a market where used equipment is in high demand. Equipment loans can help farmers buy the equipment they need to improve efficiency in their operations — without putting a strain on current budget or cash flow — though they often take some time to close.
But now, with the new launch of FBN® Finance instant approvals* on equipment financing, farmers can get an instant decision to expedite the financing process and help them be more competitive in a seller’s market.
This convenient, easy instant feedback from FBN Finance helps farmers focus on securing the equipment they need to maximize operational profitability rather than spending valuable time going back and forth with a bank or other local lender.
Farm equipment financing allows approved farmers to:
Purchase new equipment
Update existing equipment
Replace outdated equipment
Manage cash flow
Regardless of whether you’re looking to lease or buy farm equipment, current market demand is high. It's in your best interest to act quickly when you find the right piece of farm equipment for sale. A significant benefit of FBN Finance’s instant approval process* is that you don’t have to fill out lengthy application forms and submit financial statements. Instead, you’ll disclose total assets, liabilities, and gross farm and non-farm income on the application.**
With an instant approval*, farmers can likely receive funding faster^ because they don’t have to wait weeks for paperwork to be reviewed and approved. This is especially critical for farmers who need funding immediately to purchase equipment and get back to running their operation.
Applying for an equipment loan can be done from the comfort of your home office or from the convenience of your phone. This is a huge advantage for farmers who don't have the time to run back and forth to the bank, providing paperwork and documentation. With FBN Finance’s streamlined online system, you’ll be able to track your application’s progress throughout the entire financing process.
Purchase equipment to help improve and scale your farm with an instantly approved* equipment loan from FBN Finance. If you’re interested in learning more about farm equipment loans, the FBN Finance team can help explain the application and approval processes to ensure the right fit for your operation.
A farm equipment loan from FBN Finance offers terms of up to seven years and requires the following:
A minimum loan amount of $10,000
A 20% down payment
Financeable equipment includes:
Tractors & combines | Windrowers | Implements |
Forage harvesters | Balers | Semi-tractors |
Application equipment | Irrigation equipment | Grain trailers |
If you’re looking to finance other aspects of your operation, FBN Finance also offers instant approvals* for qualified farmers on operating lines under $1 million and land loans up to $2.5 million.
Complete the brief form below, click here, or call 866-619-3080 to speak with a loan advisor today.
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* Subject to final review and verification. Terms and conditions apply.
** Additional documentation may be required during the closing process.
^ Approval is conditional. Approval, loan closing, and funding are subject to the product’s terms and conditions, and underwriting. Length of time necessary to complete the financing process, if qualified, will vary and depend on one's individual circumstances.
The material provided is for information purposes only. It is not intended to be a substitute for specific professional advice. Neither Farmer’s Business Network nor any of its affiliates makes any representations or warranties, express or implied, as to the accuracy or completeness of the statements or any information contained in the material and any liability therefore is expressly disclaimed.
Financing offered by FBN Finance, LLC and its lending partners. Terms and conditions apply. To qualify, a borrower must be a member of Farmer’s Business Network, Inc. and meet all underwriting requirements. Interest rates and fees will vary depending on your individual situation. Not all applicants will qualify. NMLS ID: 1631119.
Jan 22, 2024