The challenge:
A part-time farm hand wanted to buy his own harvester, but his risky credit profile prevented lenders from extending any farm equipment loan.
The outcome:
Aglend successfully negotiated equipment financing with a sympathetic lender at a market-leading rate.
Dreaming of a better future, a part-time farm hand at the Darling Downs sought financing to purchase his first harvester and do business as a farm contractor.
Challenges loomed. The farm hand had a day job, was a first-time equipment buyer, and was about to become a first-time farm contractor who had just recently attracted his first batch of clients. The clients were local farmers who had offered work for the young farm hand to harvest their crops.
Not surprisingly, most lenders felt accommodating the inexperienced, casually employed farm hand was just too risky.
Aglend stepped in and managed the entire application process, engaging a new lender who better understood the farm hand’s potential and was willing to consider future work contracts in assessing his payment capacity.
While helping structure the farm equipment loan, Aglend successfully negotiated for a market-leading rate.
