An equipment manufacturer and bank are working together for support farmers
A new partnership is helping farmers acquire the equipment they need.
RBR Enterprise, a designer and manufacturer of crop floaters, sprayers, and fertilizer applicators, along with First Citizens Bank, has launched a new vendor finance agreement.
Under this agreement, First Citizens Bank will work with RBR Enterprise customers to find flexible financing solutions that align with cash flow and operating cycles.
"Through this partnership, RBR's dealers and customers will gain access to flexible terms and payment structures to acquire the equipment needed to operate and grow their businesses,” Nate Bartels, ag group leader at First Citizens Equipment Finance, said in a statement.
RBR has more than 100 dealers in the U.S. and two in Canada.
Partnering with First Citizens Bank reflects a partnership that understands farming isn’t like other businesses.
"As demand for our Vector, Venturi and Vortex lines continues to grow, we wanted a financing partner who understands seasonal agriculture farming needs," Gary Reid, president of RBR Enterprise, said in the Aug. 26 statement. "Collaborating with First Citizens Equipment Finance allows our customers greater access to equipment that will keep their operations going throughout the year, allow for more time in the field, and require fewer maintenance costs.”
Other equipment manufacturers have relationships with financial institutions too.
AGCO, for example, operates AGCO Finance with DLL, a financial subsidiary of Rabobank.
Demco and TrueCore Capital’s DealerDog platform work together to provide customers with financing solutions.
And Mantiou Group/Gehl work with Vibrant Credit Union to support their farmer customers.