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What is Equipment Financing?
Equipment financing is a type of loan designed to help businesses across various industries purchase the equipment they need without having to pay the full purchase price upfront. In most cases, the equipment itself serves as collateral for the loan, providing a guarantee for the lender against defaulting; which in turn makes interest rates more competitive, and terms more flexible for you as a borrower. This financing option can be used for different types of equipment, including machinery, vehicles, technology, and tools - and it can be structured as a loan, lease, or hire purchase agreement. When it comes to equipment financing for agriculture, some types of equipment that you can purchase through this type of loan include:- Tractors and Harvesters
- Planting Equipment
- Irrigation Equipment
- Harvesting Machines
- Dairy Equipment
- Livestock Feeding Equipment
- Sprayers
- Utility Vehicles
- Tillage Equipment
- Greenhouse Equipment