Equipment Loan
no fixed amount
Loan
Description:
The Farm Loan Board takes the pressure off buying decisions with affordable financing for new or used equipment, including:
– Tractors;
– Farm implements;
– Processing equipment;
– Irrigation equipment;
– Specialized equipment.
Comments on Funding:
Funding takes the form of a loan, offering competitive interest rates, flexible payment options and amortization periods.
Continuous Intake
Eligibility:
Applications are considered from both existing producers and prospective farmers for a variety of projects including, but not limited to, farm acquisitions (i.e. farms as going concerns), land purchases, construction or improvement of buildings, and rural agri-businesses development.
Application Steps:
Applicants must complete the application form on their own, or call for a loan officer to assist or review it with them.
Documentation Needed:
Applicants must submit:
1.Loan Application Form
2. Joint Financing – FarmWorks Application Form
3. Income Statement Projection
4. Detailed Net Worth Form
5. Creditor Life Insurance Form
6. Certificate of Life Insurance
Other Things to Note:
About the author
Maurice
