Leasing equipment, vehicles, and trailers is common, and can make a lot of financial sense for businesses. What many people don’t know is that leasing options for the agricultural community extends to buildings as well.
Leasing a new barn, shop, or storage building is just as easy as financing, and while the interest rates may be slightly higher than regular loans, a few key benefits may make leasing the right option for you:
It’s quick and painless
- Rates are based on your credit rating and the approval process tends to be faster than that of a bank.
It could be tax deductible
- Instead of just writing off the interest portion of a purchase payment, the entire yearly cost of the building could be written off against your income.
It could save you cash
- No traditional down payment means you won’t deplete your cash reserves. Your operating loans and lines of credit can be better used for other farm expenses.
Our sales team can refer you to a suitable leasing company and support you through the leasing process. Call us today to make your building dreams a reality.