Citizens National Bank works with many companies and farms to provide financing for equipment. All loan decisions are made locally to provide you the quickest financing possible.
A typical equipment loan has a maximum term of 5-7 years with a maximum loan to value (LTV) of 75% of the purchase price. It is possible to borrow the entire purchase price by pledging security interest in other assets, such as other equipment or real estate. This example illsutrates a possible monthly payment scenario.
Equipment purchase example:*
*Based on a hypothetical transaction. Final rates and terms are determined after review of borrower's credit and financial condition.
|Purchase price =
|Loan amount based on LTV 75% =
|Interest rate =
||6.5% fixed 5 year term
|Monthly payment =
In addition to equipment financing, Citizens National Bank also offers equipment leasing. Consult with your accountant to determine which option may be best for you and to discuss the possible tax benefits of Section 179 Depreciation.