Farm finance can help your business at any stage. Whether you’re just starting out, struggling a little and trying to stay afloat, or thriving and looking to seize every growth opportunity available, understanding the funding options that are available to support your growth is essential.
6 reasons why finance would benefit you:
1. Conserve cash – Rather than saving money for an extended period of time to buy equipment or new machinery, financing provides you with the opportunity to purchase what you need immediately, meaning you don’t lose out on profitable opportunities and instead save for necessary expenses or emergencies.
2. Maximise ROI – Instead of paying a significant lump sum of money, you’ll only be making small monthly payments. This means you’ll be able to generate income without your bank balance taking a huge hit.
3. Build Credit – It’s important to build strong business credit if you want to receive favourable terms in future finance agreements.
4. Improve efficiency – Use of new technological inputs purchased through farm finance helps to increase the agricultural productivity
5. Purchase new inputs – Farmers need new inputs such as seeds, fertilisers and pesticides. Financing can make these purchases much easier
6. Save money – Refinance high-interest loans with a new low-interest loan.
There are many benefits to taking out finance for your farming business. Farm purchases are notoriously expensive, which is why it is best to take out finance to cover the costs instead of taking a huge hit to your bank balance.
To see how we can help you with farm finance, head to our Contact Us page.