Combine Financing: Equipment Loans, Leases & SBA Programs
Combines cost $300,000–$500,000+ new, $80,000–$280,000 used. Spread the cost with equipment financing. Decisions in 24–48 hours for qualified applications. Grain and row-crop farmers nationwide.
- Equipment financing decisions in 24–48 hours
- Loans and leases for new or used combines
- Typical terms 60–84 months; SBA to 10+ years
- Credit 600+; 0–20% down payment
Combine Financing at a Glance
Why Combine Financing Makes Sense for Grain & Row-Crop Farmers
Combines harvest wheat, corn, soybeans, oats, and other grains by reaping, threshing, and winnowing in a single pass. Grain tank capacity, header type (grain, corn, flex), and precision tech drive the investment. But with new combines costing $300,000–$500,000+ and headers adding $50,000–$150,000+, paying cash ties up capital you need for inputs, fuel, and seasonal expenses.
Grain and row-crop operations run on seasonal revenue. Harvest income comes in concentrated windows; expenses—fuel, repairs, labor—precede payment. Equipment financing spreads the cost over the combine's useful life, preserves working capital, and matches payments to harvest cycles. John Deere and Case IH models hold value. Ag lenders often offer terms of 60–84 months or longer. Tax benefits—Section 179 and bonus depreciation—further reduce the true cost. Apply now to get matched with lenders who specialize in agriculture equipment financing.
What Is a Combine Harvester?
A combine harvester (combine) harvests grain crops by reaping, threshing, and winnowing in one pass. Header type (grain, corn, flex) and width vary by crop. Combines range from 200-bushel to 500+ bushel capacity. They are essential for grain and row-crop operations and represent one of the largest equipment investments on a farm. Newer models offer precision agriculture, auto-steer, and yield monitoring. Understanding what combines are and how they're used helps lenders assess your financing application.
Why Combine Financing Is Different
Lenders view combines favorably because they're high-value assets with strong resale. John Deere and Case IH lead. Custom harvesters and large row-crop farmers are primary buyers. Financing terms often extend to 7+ years; down payments of 10–20% are common. Ag-specific lenders understand harvest cycles and seasonal cash flow. Used combines 3–5 years old are frequently financed. See equipment financing approval timelines.
Combine Financing Options
Several financing structures work for combines. Choose based on cash flow, tax situation, and ownership goals.
Equipment Loans
Borrow a set amount, make fixed monthly payments, own the combine when paid off. Typically 0–20% down, terms 60–84 months or longer. Rates 6–15% depending on credit. Ideal if you plan long-term use. See typical rates.
Equipment Leasing
Lower monthly payments than loans. At lease end, return, purchase at fair market value, or upgrade. Operating leases treat payments as operating expenses. Loan vs lease.
SBA Loans
SBA 7(a) and 504 loans offer longer terms (7–10+ years) and lower down payments. USDA guaranteed loans also support agricultural equipment. Approval typically 30–60+ days. View SBA loans.
Use equipment financing for the combine itself; use working capital for operating expenses to secure better rates tied to the asset.
How Much Does a Combine Cost?
New combines range from roughly $300,000–$400,000 for mid-size models to $400,000–$500,000+ for large units. Headers add $50,000–$150,000+. Top brands like John Deere, Case IH, New Holland, AGCO add cost. Grain tank capacity and technology drive price.
Used combines typically cost 25–45% less. A 5-year-old mid-size combine might run $180,000–$280,000. Many lenders finance used equipment up to 7–10 years old. Inspect engine hours, separator, and header. Obtain a written quote from your dealer.
Combine Financing Rates and Monthly Payments
Interest rates typically range from 6–15% for equipment loans and leases. Terms commonly run 60–84 months or longer; SBA extends to 7–10+ years. A $400,000 combine at 8% over 84 months would result in roughly $5,800/month. Use our financing calculator. Down payment requirements vary.
Requirements to Finance a Combine
Lenders evaluate several factors. Meeting these improves approval odds.
Credit: Most look for 600+. See credit score requirements. Down payment: 0–20%. Time in business: 1–2+ years; SBA and USDA can help newer operations. Documentation: Bank statements, tax returns (Schedule F), profit & loss, equipment quote. Acreage and crop mix may be requested. What lenders look at.
What to Have Ready Before You Apply
- 3–6 months of business bank statements
- Last year's tax returns — Business and personal if required
- Recent profit and loss statement
- Equipment quote — Include headers and options
- Business formation documents
- Basic business info — EIN, formation date, ownership
When to Apply for Combine Financing
Apply when you have a clear equipment need, a written quote, and financials that show your operation can support the payment. Apply before harvest—approval often takes 1–5 days. Early application gives you time to compare offers. Axiant Partners matches farmers with lenders—submit once, receive offers typically within 24–48 hours.
Tips to Get Approved for Combine Financing
- Improve your credit. Pay down balances, correct errors, avoid new applications before applying.
- Provide strong revenue documentation. Clean bank statements, organized financials.
- Consider used equipment. Quality used combines cost significantly less.
- Make a larger down payment. Reduces lender risk and can lower your rate.
- Time your application. Apply well before harvest if you need the combine by a specific date.
- Work with a broker. Applying through Axiant Partners connects you with multiple lenders.
Common Mistakes to Avoid When Financing a Combine
- Skipping the equipment quote. Lenders need it. Get a written quote including headers before applying.
- Incomplete financials. Missing bank statements or tax returns causes delays.
- Focusing on rate alone. Terms, fees, prepayment penalties matter. Read the full agreement.
- Waiting until the last minute. Rush approvals may limit options.
- Ignoring used equipment. Quality used combines often qualify with shorter terms.
Why Businesses Finance Combines Rather Than Pay Cash
Paying cash ties up working capital for inputs, fuel, and growth. Financing spreads the cost, matches expenses to harvest revenue, and preserves liquidity. Tax benefits—Section 179, bonus depreciation—further reduce the true cost. Many farmers finance to keep reserves for seasonal gaps and opportunities.
How the Combine Financing Process Works
Standard approval takes 1–5 business days. SBA and USDA add 30–60+ days.
Get a Quote & Apply
Obtain a written quote from your dealer including headers. Complete one application—we submit to multiple equipment lenders.
We Match You With Lenders
Our team identifies lenders whose programs fit your combine purchase. New or used, mid-size or large.
Review & Approve
Equipment financing often requires minimal docs. Decisions in 24–48 hours for many applications.
Funding & Closing
Once approved, sign documents. Funds go to the seller. You take possession of the combine.
Related Agricultural Equipment
Browse financing for similar equipment. One application, we match you with lenders.
Combine Financing FAQ
Can you finance a used combine?
Yes. Many lenders finance used combines, typically 7–10 years old or newer. Used equipment may require a larger down payment and shorter terms. Hours, header size, and condition affect approval.
What credit score is required?
Most lenders look for 600 or higher. Scores of 680+ qualify for the best rates. Asset-backed financing sometimes works with 580+ when revenue and down payment are strong.
How long does approval take?
1–5 business days for equipment loans and leases. SBA loans add 30–60+ days. Having documents ready speeds the process.
Is leasing better than buying?
It depends. Leasing offers lower payments and easier upgrades. Buying builds equity and works if you plan long-term use. Equipment loan vs lease.
Can startups finance combines?
Most lenders prefer 1–2+ years in business. New farmers may need larger down payments or a co-signer. SBA and USDA programs can help. Apply and we'll match you with lenders that fit.
What documents are needed?
3–6 months of bank statements, tax returns, profit and loss, equipment quote (including headers), and business formation documents. Having these ready speeds approval.
More Equipment Financing Resources
Ready to Finance Your Combine?
Applications are reviewed within 24–48 hours. We match grain and row-crop farmers with lenders who specialize in combine and agricultural equipment financing.
Get Matched for Combine Financing