Growth takes time–and the right equipment. Whether your farm operation is a brand new venture, or you’re continuing your family’s farming legacy, you no longer have to wonder who finances tractors but instead, can turn to your local community bank. PNB of Kewanee offers a wide range of financial solutions for agricultural operations, including tractor financing. Whether you’re researching how to finance a tractor, or you’re ready to start the application process right now, let’s take a closer look at what this specialized type of financing can do for your business.
What Is Tractor Financing?
Tractor financing is simply an agricultural loan used specifically for the purchase of a new or used tractor. It’s typically a secured option, which means the tractor you’re purchasing will act as the collateral for the loan. A running tractor is one of the most vital pieces of equipment in your fleet, which is why we’ve made the process of obtaining tractor financing through PNB of Kewanee as simple as possible.
How Long Can You Finance a Tractor?
Tractor financing, along with other farm equipment, through PNB of Kewanee typically offers up to seven-year terms. However, this length of time varies depending on how much you’re financing and other factors. You can work with one of our agricultural lending specialists to make sure you get into an agricultural loan that works for your finances.
Why Finance a Tractor Through PNB of Kewanee?
You can find tractor financing at several different financial institutions, but we’ve set ourselves apart from others by offering:
- Competitive rates: Our competitive interest rates for tractor financing ensure you can access the funds you need and when you need them.
- We consider more than a credit score: Many customers ask us what credit score is needed to finance a tractor. We work with each individual customer to determine what financing option is most appropriate, while considering many factors including your credit score and more.
- Flexible repayment terms: We know every owner operates a unique business, which is why we offer a choice of financing terms. From short-term to long-term financing solutions, we’ve got you covered.
- Quick approval process: We understand if you don’t have up-and-running equipment, then you can’t complete your job. We work quickly to usher you through the application and approval process, so you can get the funds in hand.
- Preserve cash flow: Tractor financing means you can spread the cost of your tractor out over time, so you can save your cash and use it in other areas needed.
- Loan management tools: As a borrower you have access to our online portal and mobile app, so you can manage your loan from anywhere. And if you ever have any questions, our customer service is happy to help.
New farming equipment doesn’t have to remain out of reach. Tractor financing can ensure you have funding so you can quickly start or add to your fleet. Contact one of our lending experts at Peoples National Bank of Kewanee today and find out more.
