Leases

Leasing has become the financing vehicle of choice for today's smart farmers. After all, you make money by using equipment... not owning it. At Heritage Bank, we know you, we care about your business, and we care about your personal success. That's why we can probably offer you better terms than a traditional leasing company that may only be interested in the profit of the lease transaction itself.

Not all equipment is a good fit for lease options. At Heritage Bank, we make sure you don't lease any equipment that may have a higher market value at the end of the lease than it does at the beginning. Items that fit well into a leasing program are items that become outdated or depreciate in value over the term of the lease agreement.

Commonly Leased Farm Items

  • Livestock equipment
  • Corn dryers
  • Milking and feeding equipment
  • Grain handling equipment
  • GPS equipment
  • Office computers
  • Computerized feeding systems

Leasing Advantages

  • Eliminates your equipment's obsolescence, giving you the opportunity to upgrade as technology changes.
  • Conserves working capital for other uses
  • Leaves your existing credit lines available for short term needs such as seed or livestock, personnel management, and accounts receivable.
  • Allows you to begin using equipment without making a large down payment.
  • May offer tax advantages as an operating expense, actually costing less in after-tax dollars than an outright purchase.
  • Helps improve your balance sheet's debt to asset ratios.

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