
Farm Operating Loans Explained
Loans and lines of credit are two different financing options borrowers can leverage to help manage working capital while maintaining adequate cash on hand.
4 minute readInvesting in the right ag equipment can improve processes, productivity and ultimately increase your bottom line, but it involves weighing many options including where to buy, what to buy and how much to spend. Here are some key questions to ask as you plan your next equipment purchase.
Before you make an equipment upgrade, complete an audit of your existing equipment.
Answer these questions about your machinery costs and performance to help you justify your next purchase and identify your short- and long-term goals:
Involve trusted advisors early in the buying process to set a realistic budget. Your dealer, accountant or lender can help set expectations about purchasing power and affordability. Talk with your advisors about:
Choosing between new and used equipment will depend on availability as well as your budget, preferences and individual needs for your operation. While each option has its pros and cons, consider these questions:
Once you’ve established a budget, you can search for the best equipment deals. Explore dealerships, auctions -- both in-person and online – as well as machinery listed by private party sellers. Once you are ready, apply online for equipment financing or call 888-525-9805.
Machinery purchases are a major capital commitment and one of the biggest financial decisions you can make for your operation year to year.
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Loans and lines of credit are two different financing options borrowers can leverage to help manage working capital while maintaining adequate cash on hand.
4 minute readJust as every property is different, so are the ways farmland can be effectively sold at auction. When landowners elect to sell their real estate, they must decide which auction methods will be used to conduct the sale.
3 minute readWhether you’re looking to purchase ag real estate at an auction online or in person, understanding the best practices for preparation, bidding, and closing on that land can make a huge difference in your success.
4 minute read