Why would a farmer use equity investment as opposed to regular debt investment? Pros & cons please.
Maybe you're asking about alternative forms of ownership for farms? If so, you might want to check out Equity Trust's programs: http://www.equitytrust.org/WholeFarm.html
Without knowing more about what type of operation a farmer is trying to finance, it's hard to give a nuanced answer... debt is usually the preferred option for farms because there's no need to sell ownership to equity investors, the repayment plan is clearly specified and is easy to plan for, and there are many more active debt providers than equity investors that work in the farming space. Debtors are also less likely to want to participate in the management of the operation... though an equity investor with relevant experience can also be quite helpful.
That said, if there is a plan to rapidly grow some part of the farm business that necessitates keeping a tighter handle on cash flow (ie, there is a preference to avoid paying out cash toward a loan+interest during the growth period), if there is a clear, achievable plan for paying out equity investors for their share of the company within the agreed-upon time frame, AND if you can find an equity investor whose values are aligned with your own, selling equity might make sense.