Equipment Loans

Texas AgFinance makes short- and intermediate-term loans for the purchase of new and used equipment, including:

• Planting equipment
• Harvesting equipment
• Irrigation equipment
• Trucks and livestock trailers
• Processing equipment
• And more

AgFAST Loan Program
To help agricultural producers obtain the equipment they need quickly, Texas AgFinance developed the AgFAST loan program. Under this program, a decision on loans under $100,000 is typically made in less than 24 hours. The applicant completes a short loan application form requiring minimal information, and a credit decision can be returned in a matter of minutes or hours. In many cases, loan funds are available the same day.

To qualify under the AgFAST loan program, equipment and vehicles should be less than 10 years old and used primarily for agricultural or business purposes.

For loans over $100,000, additional information may be required.

Loan Terms and Rates

• 3- to 7-year terms are typical, depending on age and useful life of the equipment
• Monthly, quarterly, semi-annual or annual payments to match borrower's cash-flow
• Fixed and variable rates available

Leasing Services
Texas AgFinance customers benefit from strategic alliances between Texas AgFinance and national leasing companies when they lease vehicles, tractors, irrigation equipment or other products. Customers also may take advantage of fleet discounts that the co-op's leasing partners receive. Those discounts are passed on to our customers through the lease of a vehicle. Leasing also offers tax advantages not available with the purchase and depreciation of equipment.

Patronage Program
Patronage refunds are one of the many benefits of borrowing from Texas AgFinance. As a cooperative, we follow the cooperative business principle of refunding a portion of our annual earnings back to our stockholders through direct patronage payments, reduced borrowing costs or competitive interest rates.

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