Farming is a time and labor-intensive job.
Many farmers want to invest in the latest technology and equipment to keep their farms running as efficiently as possible, but they can’t sacrifice profitability. Depending on your farm’s characteristics and needs, it will sometimes make sense to purchase a new piece of equipment and other times it will make the most sense to rent or lease.
Missouri and Iowa’s agricultural businesses require a lender that provides good terms on loans for their machinery and equipment. BTC Bank is your local lender of choice if you are looking to increase your equipment inventory or maintain the inventory you already have.
What kinds of Machinery and Equipment does BTC Bank provide financing for?
This is not an exhaustive list; see the loan officer at your local BTC branch for specific information on coverage.
Equipment and Machinery that may qualify:
- Hay Balers
- Grain Bins and Facilities
- Tillage Equipment
- Livestock equipment
- Machine sheds
- Irrigation systems
- General farm improvements
Benefits of Agricultural Equipment Financing
While there are obvious and immediate benefits to financing your farm equipment and machinery purchases and leases, freeing up cash flow is only one of several ways farmers save money. Consult your tax professional to learn more about the accounting benefits of equipment financing and leasing including deduction eligibility, faster depreciation and bigger write-offs, and other tax breaks.
Terms of Payment for Farm Equipment Financing
BTC Bank has a wide variety of intermediate-term loans for farm machinery and equipment, with times to payoff ranging from 1 to 5 years.
- The interest rates are influenced by things such as credit quality and the size of the loan. Contact us or call 660-425-7285 for interest rates and details.
- As with other types of loans, equipment and machinery loans can also be taken out as fixed-rate or variable loans.
Why choose BTC Bank for Farm Equipment & Machinery Financing?
We’ve been an agriculturally minded community bank for nearly a century. With such a strong history of community investment, we understand the needs of the local farmers and agricultural communities we serve. Unlike a national lender, our customers are also our friends and neighbors and we are committed to strengthening the places they live and work by providing opportunities and reinvesting the deposits you make at BTC Bank back into your community.