Financing Flexibility
By: Jim House, Credit Manager
Among weather, tariffs, and commodity prices, the 2019 crop year reminded us how many uncontrollable factors impact our industry; especially growers’ bottom line. As we start looking ahead to 2020, we are extra mindful of finding ways to improve that bottom line with factors that are in our control; one of which is interest expense. Whether you are purchasing equipment or inputs from us, we have a handful of programs available to help.
The input programs we offer through John Deere Financial, TruChoice and/or Rabo, typically offer no payment due until after harvest as well as low to no interest rates. With these programs, you can significantly reduce your total interest expense. On the equipment side, payments are seasonal at affordable rates throughout multiple seasons.
Even if you can borrow at favorable rates right now, this may be worth considering for several reasons. The APR offered on some of these programs is 0% and on others, it may be less than what you currently pay. This frees up credit from your other sources to pay for items not covered under these programs. Plus, these input programs are unsecured, meaning there are no liens or filings that would impact other borrowing opportunities.
To enroll in these programs, credit approval is required from the third-party provider as well as other minimum qualifications. For financing questions or program details, you can reach out to me, Jim House (319.679.7209), or chat with your Stutsman rep.