Equipment & Machinery Loans at Agrow

13 Sep

Equipment & Machinery Loans at Agrow

Equipment & Machinery Loans at Agrow

Your business depends on tools and equipment that keep up with your constant on-the-go pace.  To maintain and grow, it’s important to ensure that your equipment investments are hard at work along with you while allowing more freedom with your business finances.

At Agrow, we finance equipment and machinery such as tractors, combines, hay balers, trailers, shredders, pivots, etc.  We can make loans on new or used equipment/machinery.

Benefits of choosing Agrow for your equipment/machinery loan(s):

  • Allows you to spread payments out over a longer period of time
  • Loan terms range 3-7 years
  • Loans available for new and used equipment
  • Increases your cash flow
  • Ability to customize to best fit your financial situation

To qualify for a loan, Agrow requires the following:

  • Valid states for equipment and machinery loans include Texas, New Mexico, Louisiana & Mississippi. If outside of these territories, please contact Agrow prior to filing out an application.
  • Filled out Application with consent to pull credit
  • Previous 3 years of Tax Returns for Owner(s)/Partner(s)
  • Personal Financial Statement for each Owner/Partner (with detailed list of all outstanding loans)
  • Previous 3 years of Tax Returns for Business(es) – If Applicable
  • Balance Sheet and Income Statement for Business(es) – If Applicable
  • Copy of each Owner/Partner’s Driver’s License
  • If loan is being applied for in a company name, we will need a copy of the company’s organizational/formation documents
  • The equipment/machinery being purchased or refinanced will serve as collateral for the loan (however, additional collateral may be required). Collateral value is based upon appraised value or cost, whichever is less.  For new equipment/machinery there is an 80% max loan amount and for used equipment/machinery there is a 75% max loan amount.

Please note that equipment inspections/appraisals will be made at the outset of the lending relationship and every 2-3 years thereafter as long as the loan remains.

Contact us today to get started on improving your cash flow & business with an equipment loan!

 

info@agrowcredit.com

512.892.8999

 

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