General Farm Equipment
General Farm Equipment, which is defined as tractors, including but not limited to skid steers, excavators, and bull dozers; implements; self-propelled sprayers and spreaders; and combines and harvesting equipment.
Equipment Age | Down Payment | Terms | 1-3 Years | 3-5 Years | 5-7 Years |
|---|---|---|---|---|---|
New to 7 Years Old | 0% Down | Terms up to 84 Months | 7.35% | 7.55% | 7.75% |
8-20 Years Old | 10% Down | Terms up to 60 Months | 7.35% | 7.55% | N/A |
Over 20 Years Old | 20% Down | Terms up to 36 Months | 7.60% | N/A | N/A |
Irrigation Equipment
Irrigation Equipment, which is defined as center pivots, hose reel irrigation (drip irrigation systems are not eligible).
Equipment Type | Down Payment | Terms | 1-3 Years | 3-5 Years | 5-7 Years | 7-10 Years |
|---|---|---|---|---|---|---|
New Center Pivots | 0% Down | Terms up to 84 Months | 7.60% | 7.85% | 7.99% | N/A |
New Center Pivots | 10% Down | Terms up to 120 Months | 7.60% | 7.85% | 7.99% | 8.20% |
Inclusions
- Ancillary costs include the following: well pumps and motors, power units, pipe, electrical wiring, pivot bridges (financed with purchase of system only).
- Remote pivot management technology, including antennas, radios, and soil moisture sensor technology.
- GPS ready control panels, displays, controllers necessary for remote controlling and monitoring of center pivot irrigation, and flow meters.
- Software: monitoring and mapping tools, data logging, telematics.
- Allows for the inclusion of FCC license fee; initial network subscription and data plan.
- Water Reel Systems are allowed with terms up to 7 years.
Exclusions
- Well drilling costs.
- Drip irrigation systems and retrofitting/re-piping existing systems.
Conditions
- 100% of loan proceeds disbursed at time the irrigation system is delivered.
Forestry Equipment
Equipment Age | Down Payment | Terms | 1-3 Years | 3-5 Years | 5-7 Years |
|---|---|---|---|---|---|
New Equipment | 10% Down | Terms up to 60 Months | 7.35% | 7.55% | N/A |
Up to 5 Years Old | 20% Down | Terms up to 48 Months | 7.60% | 7.85% | N/A |
6 - 10 Years Old | 25% Down | Terms up to 36 Months | 7.85% | N/A | N/A |
Titled Equipment
Titled Equipment, which is defined as farm trucks and SUVs; trailers; and semi-trucks and trailers.
Equipment Age | Down Payment | Terms | 1-3 Years | 3-5 Years | 5-7 Years |
|---|---|---|---|---|---|
New Equipment | 0% Down | Terms up to 84 Months | 7.35% | 7.55% | 7.75% |
Up to 20 Years Old | 10% Down | Terms up to 60 Months | 7.60% | 7.85% | N/A |
Origination Fee
Loan Amount | Fee |
|---|---|
$2,500 - $49,999 | $400 |
$50,000 - $99,999 | $500 |
$100,000 - $249,999 | $600 |
$250,000 and up | $750 |
Rates shown are the best available rates for qualified borrowers. Actual rate, term, and down payment requirements may vary based on credit quality, collateral, loan structure, and relationship considerations.