Agriculture Loans — Ag Equipment Financing & Leasing
No fixed amount
Loan
Description:
Ag Equipment Financing & Leasing supports Alberta’s agricultural producers in acquiring the necessary equipment for their operations.
Comments on Funding:
Get up to 100% financing on new or used equipment for up to 180 months, or up to 100% leasing on new equipment for up to 84 months.
Interest rate: varies with equipment details and term
Amortization: up to 15 years
Repayment: flexible terms – monthly, quarterly, semi-annually, or annually
For a Conditional Sales Contract, the down payment may be the equity of a trade in or a cash down payment. For an amortization period of 10 years or less, the down payment requirement is only 10%, for long amortizations it is 20%. Upon approval of credit, the first $100,000 may be 100% financed. For leasing, 100% of the equipment may be financed, with the first payment made upon delivery of the equipment.
Continuous Intake
Eligibility:
Applicants must be agricultural producers
Application Steps:
Applicants must connect with an ATB Ag Equipment Specialist for purchasing new or used equipment.
Applicants must connect with an ATB Ag Equipment Financing & Leasing team for those dealership selling farm and construction equipment
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
ATB has the ability to finance the following items:
–Any new or used agricultural equipment. Recommended model year age under 15 years. Age + Amortization not to exceed 15 Years. Some exceptions apply on Model Years.
–Farm trucks one ton and greater
–Grain bins, grain handling equipment such as baggers, and dryers.
–Farm and Ranch buildings. These structures commonly financed/leased are Pole Shed Barns, Irrigation Pivots.
Producers can lease the following items:
–Any new or used agricultural equipment. Recommended model year age under 10 years (Age + Amortization not to exceed 10 Years) Some exceptions apply on Model Years.
–Farm trucks one ton and greater
–Grain bins, grain handling equipment such as baggers, and dryers.
–Farm and Ranch buildings. These structures commonly financed/leased are Pole Shed Barns, Irrigation Pivots.
Note: The lease can cover 100% of the equipment’s value, including taxes, insurance and warranty.
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Maurice
