Finance New or Used Farm Equipment
Terms up to 7 years. As little as 0% down. Quick decisions from a lender who puts Farmers First.
Current Equipment Loan Rates
2-3 Year Fixed
6.5%
2-3 Year Variable
5.99%
6-7 Year Fixed
6.75%
Farm Equipment Loans — Fast Decisions, Flexible Terms
✓ As little as 0% down | ✓ Terms up to 7 years | ✓ New & used equipment eligible
The right equipment can make all the difference in maximizing yields and minimizing labor costs. But purchasing new — or even used — equipment can be extremely costly.
With competitive fixed rates and repayment terms up to 7 years, FBN® Finance is designed to support farm cash flow. As little as 0% down means you keep more capital working in your operation. FBN Finance has helped thousands of farmers across the country finance the equipment they need to grow.
Frequently Asked Questions
What credit score do I need for a farm equipment loan?
Most farm equipment lenders look for a minimum credit score of 620–640, though some programs are available for scores as low as 560. FBN Finance offers options across a range of credit profiles — use our Equipment Loan Calculator to see estimated rates and payments based on your credit score range. Borrowers with scores of 720 or above typically qualify for the most competitive rates.
How long does it take to get approved for a farm equipment loan?
With FBN Finance, you can receive a quick credit decision often the same day you apply. Complete the online application in minutes — our team reviews your information and follows up promptly. Full funding timelines depend on documentation verification and the equipment seller's process, but FBN Finance is designed to move quickly so you don't miss a deal or delay your season.
Can I finance used farm equipment?
Yes — FBN Finance equipment loans can be used to purchase both new and used farm equipment. Whether you're buying a late-model tractor from a dealer or a used combine from another farmer, FBN Finance can help. Eligible equipment includes tractors, combines, forage harvesters, irrigation systems, balers, semi-tractors, grain trailers, and more.
What is the minimum down payment for a farm equipment loan?
FBN Finance equipment loans require as little as 0% down on a monthly payment structure, meaning qualified borrowers can finance 100% of the equipment cost. This helps preserve your operating capital for seeds, inputs, and other farm expenses. Minimum loan amount is $10,000.
Are farm equipment loan interest payments tax deductible?
In most cases, yes — interest paid on a farm equipment loan used in your agricultural business is tax-deductible as a business expense. Additionally, Section 179 of the IRS tax code may allow you to deduct the full cost of qualifying equipment in the year of purchase. We recommend consulting your tax advisor to confirm eligibility. See our blog post: '7 Ways to Potentially Reduce Tax Liability for Your Ag Operation.'
When to Repair vs. Replace Farm Equipment
When equipment isn’t performing as it should, you’re faced with a tough decision: should you repair or replace it?
Equipment Purchase Agreement Template
Use this free PDF template for an equipment purchase or sale to outline specific details, minimize risk, and ensure a smooth transaction.
Equipment Purchase Checklist
This free checklist walks farmers through the process of considering, researching and making a farm equipment purchase.
How to Negotiate Ag Equipment Prices Like a Pro
As farm machinery prices increase, arm yourself with 7 steps that can help you get a fair equipment price.
Tractor Troubleshooting: A Farmer's DIY Guide to Common Issues
Protect your operation from costly downtime by learning to quickly diagnose and potentially resolve common tractor issues with this DIY repair guide.
Spring Equipment Maintenance Checklist
Use this free checklist to prepare your equipment for the busy spring season so you can maximize equipment value and help eliminate downtime.
Winter Equipment Maintenance Checklist
This free checklist outlines seven maintenance best practices as you prepare to store equipment this winter.
Equipment Loans 101 Guide
Understand common equipment loan use cases and the loan application process.
From the FBN Finance Blog — Equipment Purchasing & Cost Analysis
Click on a tile to read our latest equipment blog posts.
When Should You Repair vs. Replace Farm Equipment?
Every situation is different, so it’s important to evaluate the pros and cons of each option to make the most economical decision.
How Can I Estimate My Farm Equipment Loan Payments?
By estimating payments and fees upfront, the free Equipment Loan Calculator makes it easy to see your options at a glance so you can make an informed decision for your ag operation.
What Impacts Typical Equipment Financing Rates?
The latest ag equipment to hit the market may be more accessible than you realize. Discover common factors that impact financing rates and why paying reasonable interest can actually increase your profitability.
When Should You Lease vs. Buy Farm Equipment?
Having the right equipment can make a huge impact on your operation. Learn more about the options available for buying or leasing farm equipment for growing crops or offering professional services like custom application, spraying, and more.
Where to Find Farm Equipment for Sale
Finding the perfect piece of farm equipment for sale can be challenging. It can take time and effort for rural farmers to visit an in-person dealer. Farm equipment can be highly specialized and designed to meet specific needs, and so finding the right equipment may unlock your farm’s full potential.
Which Equipment Ownership Metrics Should You Consider?
Agricultural operations require a significant investment in equipment to operate effectively. Before your next equipment purchase, take time to walk through these 5 metrics to help make sure your business is in an optimal position to take on this decision.
What Is an Equipment Loan?
A farm equipment loan is financing that lets farmers purchase new or used agricultural equipment — like tractors, combines, and irrigation systems — and repay the cost over time, typically 1–7 years. Instead of paying upfront, farmers make fixed monthly payments, preserving cash flow for seeds, inputs, and other operating costs.
FBN Finance offers equipment loans starting at $10,000 with terms up to 7 years and as little as 0% down.
What Can Equipment Loans Be Used For?
Equipment loans can be used to finance a wide range of farm equipment, including tractors, combines, irrigation systems, and more. These loans can also be used to purchase either new or used equipment, depending on the borrower's needs. For example, equipment loans can be used to:
Purchase new or used tractors, combines or other farm equipment
Upgrade or replace existing equipment
Purchase irrigation systems or other farm infrastructure
Finance equipment repairs or maintenance
How Can Farmers Qualify for an Equipment Loan?
To qualify for an FBN Finance equipment loan, farmers generally need: a minimum credit score (options available from 560+), proof of farm income via 3–5 years of Schedule C or F tax returns, and a minimum loan request of $10,000.
Equipment loans are secured by the equipment itself, which often allows more flexible qualification compared to unsecured loans.
What Documentation Is Required to Secure an Equipment Loan?
To apply for an FBN Finance equipment loan, you'll typically need: 3–5 years of federal tax returns (Schedule C or F), recent bank statements, a description or invoice for the equipment being purchased, and proof of farm insurance.
Our team will guide you through exactly what's needed after you submit your initial application.
