Growers can now get financing to buy BASF products at low-interest rates
BASF’s 2024 Growers Finance Program offers local farmers the opportunity to purchase BASF products at interest rates as low as 1.99% APR. Send in your application before March 15!
BY MARIANA LICIO
The agricultural sector in the United States is facing significant challenges in 2024, specifically around operating costs and investment. The cost of growing has gone up, and so have the products needed to plant, fertilize, and harvest crops. For this reason, getting the most out of the money available is key to a successful farming operation.
To help U.S. farmers continue growing their businesses in 2024, BASF is now accepting applications to the Growers Financing Program. The program offers flexible financing options to buy all participating BASF products at 1.99% and 2.99% annual percentage rates (APR), some of the lower rates in the industry.
In 2023, the program saved growers across the U.S. over $40 million in interest charges.
How to apply for the 2024 Growers Finance Program
To qualify for this program, growers must purchase a minimum of $5,000 in crop protection and seed or seed treatment products, and financing options can be extended until November 2024.
The application period for the 1.99% APR offer will be open until March 15, 2024. Once this period is over, farmers can continue to access select BASF products through September 30, at a 2.99% APR. BASF cotton seed financing will continue to be offered at 0% APR. Some of the seeds included in this program are Stoneville® and Fibermax® cotton seeds, Xitavo™ soybean seed, InVigor® canola seed, and Credenz® soybean seed.
Growers can also qualify for financing by purchasing BASF products through John Deere Financial Merchant (JDF) or Rabo AgriFinance authorized retail.
Almost 2,000 customers have signed up for the 2023-24 season through JDF alone. “I have utilized the offer in the past and plan to take advantage of it for the upcoming season. I have always had a good experience with financing from John Deere Financial,” explains Brad Green, a grower from Caneyville, Kentucky.
Wesley Thompson from Ray, North Dakota, a customer of BASF’s cotton seeds through JDF, said, “I'm happy to hear that the 0% interest rate [for Fibermax® and Stoneville® Cotton Seed] and lowered minimums are still part of the deal. I try to buy as many BASF products as I can because of how effective they are, so I take advantage of the JDF program. I tell all my friends about the program so they can use it too."
Growers can also use BASF’s crop input financial calculator and compare the program to their current operating line of credit.
To learn more about the terms, visit the Growers Finance Program website.
Published on January 31, 2024.
For media inquiries or to repurpose this article, please contact: lisa.brown@basf.com
