Yes, in more than one way. Prefabricated and modular buildings, grain stores, livestock housing, slurry stores and grain drying and handling systems can often be funded on asset finance. Larger permanent construction, or a project tied to land you are buying, is more likely to be funded by an agricultural mortgage secured on the property.
The distinction lenders draw is between something identifiable that could be removed or resold and something that becomes part of the land. A steel-framed building, a grain dryer, a bin system, conveyors or a modular unit usually have enough of an identity to be financed as assets. Groundworks, concrete, drainage and site preparation generally do not, so those elements often need to be funded differently or paid for from cash.
For a mixed project it is common to split the funding — asset finance for the equipment and structure, and either a loan or a mortgage facility for the building work. Getting the split right at the planning stage saves a lot of time later, so talk to a broker before you commit to a supplier’s payment schedule.
Consider the timing risk. Building projects run to stage payments, and a lender will usually only release funds against invoices or agreed milestones. Delays, cost overruns and planning conditions are your risk, not the lender’s, and if the finance is secured on property that property is at risk if payments are not maintained.