Pioneer Hi-Bred is offering a deferred loan payment program to help dairy and livestock producers buy silage inoculants during the current economic downturn.
Inoculants can improve the quality of feed for dairy or livestock producers by improving the nutrition of cattle and improving milk or meat production.
"It's a difficult time for the livestock producers, and price volatility is affecting everyone," says Kyle Whitaker, Pioneer marketing manager - forage additives. "This program offers a way to finance silage inoculant purchases and set up structured loan payments to better coincide with an operation's income.
"We have four inoculants for corn silage, three for alfalfa silage, three for grass and cereal silage and two more designed for high-moisture corn," Whitaker says. "This gives growers a wide range of crop-specific product options and flexibility with their inoculant decisions." The goal is to give producers choices to suit their individual preferences.
Qualified customers can purchase silage inoculants this summer and include those purchases on their existing 2009 Deferred Payment Loan. As an added benefit, the silage inoculant portion of the loan can be moved to the 2010 loan with final payment due June 30, 2010. The seed and crop protection portion of any existing 2009 Deferred Payment Loan is still due on the normal due date, Dec. 1, 2009.
"Customers can set up a payment plan to match their expected income," Whitaker says. "They must make a minimum of three payments, with the final payment due June 30, 2010. However, they can set up the payments monthly or a number of ways to meet individual financial needs." After setting up an approved payment schedule, the customer will receive an acknowledgment letter that includes coupons to make payment easier. For an even more convenient option, customers also can schedule electronic payments for their silage inoculants.
Pioneer sales professionals can help producers who do not have an existing line of credit to apply for the new credit program for silage inoculants.