Product Definitions - Equipment Loans

You can finance your equipment loan up to 7 years. Below is a definition of terms available.  Generally, these loans are for rolling equipment and attachments or tools that plant, maintain or hargest grain, fruits, vegetables, nursery stock, timber or livestock.

Fixed Rates

The loan rate is fixed for the entire term and there are no balloon payments. Fixed rates are available for 3, 5 and 7 years and can be converted to other products should interest rates play in your favor.

Adjustable or Convertible Rates

These loans may be priced on a 1 year period and will automatically reprice to the same product until final maturity.

Variable Rate

Loan rates may change - up or down - on the first of every month.