Farm Money Advice: Thousands can be saved by the correct farm credit decisions
Most farm businesses run on credit, in one form or another. Credit can come in a whole variety of formats, from the obvious such as farm business loan, overdrafts, hire purchase agreements, and leases, to the less obvious such as personal loans, PCP agreements, credit card, credit union debt, merchant credit, and outstanding debts to contractors, vets and other service providers.
Some forms of credit are cheap, and occasionally even free. For instance, some machinery dealers can offer 0% finance, where substantial deposits are paid, and the residual debt is paid over a short period, usually.
