Agriculture business loans

When equipment breaks, or it’s time to hire seasonal staff, your agriculture business can’t wait for a slow decision process. That’s where we come in. When you fill out the quick online form on this page, we match your agriculture business’s information to the financial providers that are best suited to your unique needs.

You choose which one you want from the list and apply directly with them. The money can be approved and in your account fast and hassle-free. You can use it for replacing irrigation systems, buying vehicles like tractors and combines, acquiring more land, purchasing supplies to build a new greenhouse or chicken coop, and covering payroll while you staff up for the busy season.

Click here to get matched with the top agriculture business loans and farm equipment financing or keep reading to learn more about how farm loans work.

Agriculture business loans are a form of financing that focuses on the needs of farms, food processors, and other agricultural businesses. The money is designed to be used specifically for the agriculture industry. It can be farm equipment financing to purchase or lease tractors, combines, irrigation systems, or upgraded processing systems and software.

Agriculture business loans can also be used to purchase livestock, seed, or feed. They can be used to repair housing and boarding facilities, from farmhouses to coops for chickens to barns for cattle. And there is no shortage of places where you can apply, including the SBA, alternative online lenders, and traditional banks or credit unions. That’s where we come in.

When you use our quick and secure online form, our system pairs you with the top financing providers for your needs and profile. It only takes seconds.

There are six main types of agriculture loans including farm equipment financing for machinery and equipment, working capital for hiring staff and making sure they have the tools and supplies needed, short-term business loans, and more. Each one is designed to keep your agribusiness running smoothly. Here is a bit more information to help you decide which is right for your needs.

Farm equipment loans
For businesses that need to cover the cost of an unexpected equipment purchase or simply need to upgrade, farm equipment financing offers a solution. These small business loans allow agriculture business owners to purchase or lease crucial equipment to keep their business running smoothly. Most will cover any type of farming equipment whether it is new or pre-owned.

Short-term farming loans
Short-term business loans are meant to cover immediate cash flow gaps and have shorter repayment periods so you can clear the debt faster.
The loan terms typically range from six to 18 months.2 Short-term farm loans tend to be some of the fastest for approvals because there is less risk for the lender with the faster payback period compared to a five-year term loan where anything could happen during the period (from droughts to a drop in demand).

Working capital loans
If your business is lacking cash flow in an off-season, a working capital loan can help cover operational expenses including utilities, system and equipment repairs or upgrades, costs for feed and seed, and other day-to-day operational expenses. It is designed for short-term use and offers fast approval times just like short-term loans.

Farming microloans
A microloan provides a smaller amount of funding for short-term, specific needs. This loan type is typically suited for farmers just launching their operation or looking to purchase seeds or other equipment that will grow their business. Microloans are common loan types for farmers and ranchers who need just a little financing to go a long way.

Installment loans
An installment loan or business term loan is a general term that refers to any loan repaid on a regular payment. With an installment loan, a fixed amount must be paid with regularly scheduled payments, normally on a monthly or even weekly basis. Each payment includes a portion of the principal amount borrowed and the interest payment, similar to a mortgage on a home.

Commercial real estate loans
A real estate loan is used for purchasing land, housing or commercial property, which is perfect if you’re buying a neighbor’s land, looking to build a new production facility or processing plant, creating a retail and visitors center, or need a new storage structure.

Farm loans can be used to help sustain your business or help expand it. They can be used for expenses like: 

Financing farm equipment 

• Keep your business running effectively with critical equipment like tractors or combines. 
• Buy or lease new or pre-owned equipment. 

Hiring seasonal and full-time farm workers 

• Improve production with a bigger workforce. 
• Prevent livestock or crop loss by having staff available around the clock. 

Stock up on farm inventory 

• Pay for items like pesticides or seeds needed for your business. 
• Buy grass, hay, grains, or other animal feed for livestock in cattle and poultry farms. 

Pay for farm operation expenses 

• Cover everyday expenses like utility bills or hardware. 
•  Make payments toward existing debts to keep your farming business afloat. 

Expand your agribusiness 

• Get financing to invest in your business’s future. 
• Acquire more crops, livestock, or land to increase production and grow your profits. 

The requirements to qualify for a farm loan vary by financing provider. Traditional lenders, credit unions, government agencies, and alternative online lenders are all going to have certain minimum requirements that applicants need to meet to get funded. These may include a minimum amount of time in business (i.e., six months to a year), a minimum amount in annual sales, and an established credit score (from poor to excellent).

Regardless of the amount of time you’ve been in business, your annual revenue, and your FICO score, SmallBusinessLoans has solutions for you through our extensive network of trusted partners. Click here to see your matches now.