Farm equipment loans
Equipment that earns its keep.
Get the tractor that keeps your few acres in shape. Every member pays the same rate on it, whatever their credit score.
Rates as low as
New farm equipment
Tractors and implements
For the land out back.
There’s always brush to clear and a food plot to get in before deer season. With a tractor and a bush hog of your own, you can get to it whenever the ground’s dry enough.
Same rate for every member, whatever your credit score- Tractors, implements and other equipment, new or used
- Up to 100% financing new and 80% used
- Pay it back over 5 years
Today’s rates
Farm equipment rates
Every member gets the same rate, and every farm equipment loan pays back over 5 years, new or used.
| Product | Term | Rate |
|---|---|---|
| New farm equipmentUp to 100% of purchase price or book value | 5 years | 7.00 % APR* |
| Used farm equipmentUp to 80% of purchase price or book value | 5 years | 7.95 % APR* |
Loan calculator
Estimate your monthly payment
This uses today’s rates. Nothing you type here is saved or sent anywhere.
Estimated payment
$495a month
- Rate
- 7.00% APR
- Payments
- 60
- Interest
- $4,702
- Total you pay
- $29,702
An estimate, not a quote. Every member gets the same rate for the same loan and term.
How to apply
Three steps to a tractor in the shed.
- Step 1
Apply
Apply online any time. You can also call (256) 383-6551 or stop by the branch at 1705 E. 17th Street.
- Step 2
Hear back
The loan team looks over your application and calls you with your rate and payment.
- Step 3
Bring it home
Sign your loan papers, and it’s yours to put to work.
Does everyone really get the same rate?
Yes. Every member gets the same rate for the same loan and term, whatever their credit score. Your credit history still plays a part in whether the loan is approved.
What can I finance?
You can finance tractors, implements like a bush hog or a box blade, and other equipment, new or used.
How much can I borrow?
You can borrow up to the full purchase price or book value on new equipment, and up to 80% on used.
How long do I have to pay it back?
Farm equipment loans run 5 years, new or used.
Do I need to be a member?
Yes. Membership is open to the whole IBEW Local 558 family, and it starts with $25 in Share Savings. You can apply for membership online.
More ways to borrow
Something else in mind?
Auto Loans
Finance a new or used car or truck at the same rate every member gets.
More about auto loans
Recreational Loans
Finance a boat, camper or 4-wheeler, new or used, at the same rate every member gets.
More about recreational loans
Home Equity Line of Credit
Borrow against your home’s equity, up to $100,000, at the same rate every member gets.
More about home equity lines
*APR = Annual Percentage Rate. Not all applicants will qualify. Rates are subject to change without notice. We’ll match a lower rate on a comparable new loan offered by another local lender. To qualify, you need a credit score of 700 or higher and a written, dated offer or quote from the competing lender at the time of application. The offer must be for the same loan type, amount, and term, and for a loan you qualify for with that lender.
Farm equipment loans
Let’s get that brush cleared.
Have a tractor picked out? Apply online, or call (256) 383-6551 to talk through the payment first.
