BASF offers Grower Finance Program to mitigate high interest rates

An ag retailer is offering a way to help farmers manage high interest rates.

Brady Spangenberg with BASF says the 2024 Grower Finance Program is one of the best in the market in terms of the overall rate.

“A 1.9 percent financing program with harvest terms should allow that grower to have a discussion with their retailer about which products fit right for the acres they’re planning.”

He tells Brownfield while current rates aren’t outrageous in comparison to historical averages, it’s a dramatic change compared to the past three to five years.

“The balance sheets that folks have penciled out the past couple years have really changed, and you’re talking about something in the neighborhood of tens of thousands of dollars in interest costs for a standard farm in the ’24 season.”

BASF Agricultural Solutions vice president Scott Kay says the company is committed to supporting the financial health of growers by offering BASF’s essential products at one of the lowest financing rates in the industry.

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