Why you might need agricultural equipment finance

With over 26,000 farms in Northern Ireland, agriculture is one of our most significant industries.

If you’re a farmer or work on a farm, you’ll use a lot of equipment, everything from tractors to milk silos.

Unless you have the capital to buy equipment outright, you’ll need to consider agricultural equipment finance at some point.

Here are some of the circumstances in which you might need an agricultural equipment loan.

1. Your old equipment is at the end of its life

Farm machinery doesn’t last forever. For example, it’s estimated that a tractor will provide 4,000 hours of service before it stops working as it should.

Old farm equipment is not only less efficient but can be a health and safety risk. Older tractors are more likely to overturn, which can be extremely dangerous if the operator is thrown out or pinned underneath.

An agricultural equipment loan means you can replace any farm equipment that is getting old.

2. You want to grow your business

If you want to expand, you’ll need additional equipment to grow your farm business. 

Whether you’re diversifying, moving into a new niche, or buying more land, an agricultural equipment loan means you can stay competitive and increase your output.

3. You want to automate and become more efficient

Automation is transforming the farming industry, with modern technology meaning farmers can do more work with less effort.

Given that the average age of a farmer in the UK is 59, automation means older farmers can continue to do their jobs without resorting to back-breaking labour.

If you’re considering purchasing a drone, fruit picker or robotic milking machine, agricultural machinery finance can help.

4. You want to become more sustainable

Purchasing more sustainable equipment not only helps reduce your carbon footprint but can help you save money in the long term.

For example, buying a biomass boiler means you can use food waste, animal manure and leftover crops to generate electricity and heat for your farm.

If you want to modernise your farm to make it more energy-efficient, an agricultural equipment loan can help you achieve your goals.

Looking for an agricultural equipment loan? We can help

One of our specialisms at Kane Financial Services is agricultural machinery finance. This means if you’re looking for an agricultural equipment loan, we can give you the advice you need.

We’ve been working with farmers for over 35 years, providing them with tailor-made solutions to help their businesses grow and evolve.

If you’re considering agricultural equipment finance, we can help you spread the cost with financing or arrange a small business loan that will help you move to the next level.

Contact our finance specialists today and see how we can help you finance the brand new farm equipment you’ve always wanted.