Local agriculture equipment dealership customers impacted by the Ft. Laramie Canal are getting some help through a variety of alternatives aimed at reducing financial stress from the situation.
At 21st Century Equipment, Terry Gass tells KNEB News the company’s leasing arm, and John Deere Financial, are offering to defer payments by up to 12 months.
“When the growers buy farm equipment, they have an amortization schedule set up to pay for equipment. It comes out as cash from their cash-flow, typically in the fall or winter,” says Gass. “With the shortfall of cash this year, we want to be able to defer those payments if possible, and help those growers weather the storm.”
Gass says the success of our local economy depends on farmers and ranchers in the area, and the company is wanting to do everything they can to help.
Similar financial assistance is being offered by Horizon West and CNH Capital, according to GM Bruce McCracken.