Category: Agricultural Industries (page 1 of 5)

Fast Farm Loans

27th July 2021 / admin / Comments Off

Fast farm Loans available from Richmond Asset Finance.

We often speak to farms needing to replace equipment, develop property, or settle bills to continue their business activities. The challenge we often hear is how they can access the necessary finance. The banks usually ask for a multitude of information and many lenders do not appreciate the cyclical nature of farming businesses. This is where Richmond Asset Finance can help.

If you need access to immediate finance for your farm this is a fast and competitive option.

Why choose a fast farm loan from Richmond Asset Finance?

You’ve just paid your staff, you are still waiting for that major client to settle their account and a large bill has just arrived on your desk.

When a number of circumstances conspire at any one given time this can cause even the most stable of farms to encounter cashflow problems, not to mention worry for you as the business owner.

Unfortunately this is not uncommon, but help is at hand.

If your farm needs emergency finance our fast farm loans can help you pay unexpected bills, bridge a cashflow gap, and get your farm back on track.

Speak to Richmond Asset Finance today and we will be able to help you with your farm finance requirements.

Farm Finance Near Me

10th May 2021 / admin / Comments Off

Richmond Asset Finance are one of the most reputable sources of agricultural and farm finance in the North West. We are experts in farm finance and all agricultural funding.

Richmond Asset Finance is an all embracing term we use to describe all types of farm and agricultural finance we offer to the rural and country business sectors and which can also be described as Agricultural Finance, Equestrian Finance, Farm Finance, Land Finance and Horticultural Finance. Finance can be provided for holiday complexes, caravan parks, caravan sites, properties with agricultural restrictions, land, buildings, working farms, non-working farms, nurseries, garden centres, smallholdings, estates, fisheries, farm shops and generally all types of rural type situations.

What is the purpose of farm finance?

Any legal purposes including but not being limited to repaying debt, repayment of an overdraft, diversification, working capital, business start ups, reducing outgoings, purchases of any kind and development of property or development of business.

Richmond Asset Finance completely understand farm finance, rural & agricultural funding. You can be assured of a personal and expert service at all times. Every case is handled personally by one of the partners. One of our main aims is to reassure you that you never become a just a ‘number’. It also helps that we have a lengthy and healthy relationships with our lenders.

Richmond Asset Finance are one of the most reputable sources of rural & farm finance in the UK. We guide and advise you throughout your application process, making sure your individual needs and circumstances always come first. Although we co-operate with a diverse range of banks and financial institutions, we are above all, independent. This means we always tailor a solution that best meets your requirements, not the banks We provide farm finance and refinance solutions, bridging finance packages, impartial advice, support and a level of customer service envied by our competitors.

What sorts of asset finance are there?

9th April 2021 / admin / Comments Off

There are several types of asset finance and a few minor variations. Each has its uses, benefits and disadvantages but all broadly follow the principles of asset finance given above. A general overview of what’s available follows:

Hire purchase

This is a very similar model to hire purchase for individuals. The hire purchase provider retains ownership of the asset to be leased over the term of the agreement and leases it to the business for agreed regular fixed payments. Businesses may make a larger initial payment followed by smaller payments on an agreed schedule. At the end of the agreed period, the business can choose to buy ownership of the item outright with a further payment.

Finance lease (or capital lease)

This differs from some other asset finance in that the business is only ever renting the assets concerned. Again, payment is made with regular payments to an agreed schedule. This normally lasts until the finance provider has recouped the purchase value of the asset. In some instances, the finance company may allow the business to share in a percentage of the sale value of an item once it has been sold. The business does not have the option to purchase the asset outright.

Tax-wise, it may be possible for a business to offset the rental payments against their profits. However, this is not possible with long funding leases. The finance company retains the right to any capital allowances, but the business can reclaim VAT.

Asset refinancing

There are basically two forms of asset refinancing: the first is simply using a company’s assets (physical or otherwise) as security against a loan.

The second – more properly called asset-based lending – is where a business sells an asset to asset finance provider for an agreed lump sum. The business then leases back the asset sold from the finance provider – thus repaying the lump sum paid.

Asset refinancing differs from a simple secured loan in that a business can use physical assets they may only partially own as collateral, but only up to the level of equity they have in that item.

Contract hire

This form of asset financing relates to vehicles only. A business wishing to expand its fleet will approach a contract hire provider who will source the vehicle(s) required. The business pays a regular amount over the agreed leasing period.

Maintenance and servicing costs remain the responsibility of the provider, rather than the business. For larger companies with multiple vehicles fleet management services may also be included in the base contract hire costs.

Contract hire (also sometimes referred to as vehicle asset finance) carries the benefit of relieving a business of the time and budget-consuming tasks that accompany normal vehicle ownership. The provider is responsible for finding and buying a new vehicle, as well as all maintenance and servicing costs. At the end of the leasing period, the provider also assumes responsibility for the disposal of the vehicle.

Farm machinery finance options through Richmond Asset Finance

30th March 2021 / admin / Comments Off

Richmond Asset Finance are pleased to announce that we offer a wide range of financial payment facilities on most of our new and used tractors and farm machinery.

We offer agricultural and farm machinery finance across the UK. Richmond Asset Finance’s success is reliant on its specialist service and preserving a competitive edge in a very competitive industry. We ensure that our interest rates are monitored regularly so that they remain at the sharp end of the market.

We can provide finance for a wide variety of agricultural assets, from cultivators, tractors and combine harvesters to livestock, robotic milking machines and crop sprayers, and we’ll guide you through every part of the agriculture finance process.

Having helped thousands of farm owners achieve business growth, we can help you with a tailored flexible agriculture finance funding solution from £10,000 to £500,000. We’ll even take the seasonality of your business into account when tailoring your payment plan.

Speak to one of our specialists today for more information.

Plant & Machinery Financing Solutions from Richmond Asset Finance

17th February 2021 / admin / Comments Off

The investment in effective agricultural plant machinery is essential for farmers and and contractors within the construction industry, in order to raise working capital and boost growth.

Construction and agricultural refinance releases funding when your business needs it more by advancing cash against uncertified applications for payment or staged invoices, which gives a safety net for finances, meaning businesses are no longer held back from making staff and supplier payments or taking on projects due to delayed payments. This innovative funding solution for the construction industry is sustainable and practical for all involved, providing pre-payments against applications and milestones for sub-contractors in which contracts with customers often create a barrier to traditional financing and refinancing options.

Through our construction finance solutions, our team at Richmond Asset Finance can help ensure your business and farm has a regular cash flow in addition to raising more capital for you to work with, which in turn will make it easier to run your business, pay staff, cover overheads and increase turnover. Not only this, but should you need to purchase new assets to enable the highest standard of service for your customers, construction finance can allow you to do so.

We provide construction finance and refinance for a range of different construction machinery and yellow plant.

What industries/sectors use equipment loans?

12th February 2021 / admin / Comments Off

There’s an almost limitless amount of industries and sectors eligible for equipment finance. We can help you find equipment finance for:

Agriculture and farming

Buses, coaches, cars, vans, trucks and haulage

Finance for a garage or mechanic

Manufacturing and heavy industry

Racking warehouse equipment and shelving

How do I get an equipment loan?

One of the advantages of equipment loans with Richmond Asset Finance is that, if you’re eligible, they are quick to get.

This is great news for businesses that can’t wait weeks or months to purchase, replace or repair critical equipment. You can use Richmond Asset Finance to find a suitable equipment loan.

What are the benefits of equipment finance?

5th February 2021 / admin / Comments Off

There are many reasons you might choose equipment finance rather than paying up front out of your business’s coffers. Here are four of the best:

Tax efficiency

Some types of equipment finance like equipment leasing and sale and leaseback are more tax efficient than buying outright. That’s because when you lease an item it’s a monthly expense rather than an asset sitting on your balance sheet.

Easy to budget and manage

Equipment finance in most of its forms gives you predictable payments so you can spread the cost over time. That means that managing cashflow is that little bit simpler, and you can focus on running the business.

Flexibility and scalability

If you finance one piece of equipment and your business starts growing, you can get more items quickly without a large outlay. Whether you’re ramping up production using a new piece of state-of-the-art kit, or getting hold of extra vehicles for expanding logistics, equipment finance is a great way to grow your business.

Access to other lines of credit

One of the often forgotten but important reasons to finance equipment rather than buy it outright is access to other lines of credit. For similar reasons as tax efficiency, equipment finance is usually a predictable monthly expense, which means you can get another type of business finance alongside it. This is a huge advantage for some businesses — you could get the equipment you need, and take out a business loan for marketing, for example.

Machinery Finance Yorkshire

4th January 2021 / admin / Comments Off

Asset Finance Solutions with Richmond Asset Finance Yorkshire.

Acquire the plant and machinery that your business needs to grow, without paying large upfront costs that can significantly dent your cash flow.

Fixed Term Hire Agreement

Fixed payments over a fixed period of time, with the option to gain ownership of the equipment at the end of the agreement.

Minimum Term Hire Agreement

Fixed payments over a minimum term, giving you the option to continue leasing the equipment after the primary term of the agreement has been reached.

Operational Lease

Lease the equipment without the hassle of ever owning it. The lender will consider its future value and take a residual risk in turn reducing the monthly payments. After the minimum term of the agreement is reached the lender will retain ownership of the equipment.

Sale & Lease Back

A quick way for your company to raise working capital against assets you already own. Transfer the ownership of your asset over to a lender, then make monthly repayments in order to keep using the equipment.

If you are interested in Machinery Finance and you are based in Yorkshire, Richmond Asset Finance are the lender for you.

Richmond Asset Finance can help you with the purchase of:

27th December 2020 / admin / Comments Off

Arable Equipment and Machinery – Tractors, Tillers, Rollers, Ploughs and Harrows.
Soil cultivation machinery – Cultivators and Ploughs.
Planting machinery – Broadcast Seeder and Reapers.
Balers & other Baling Equipment.
Animal Feed – Loans to purchase feed for Cattle, Sheep, Poultry, Pigs and other Livestock.
Cattle Equipment – Beef and Cattle Housing and Cow Feed.
Loader Equipment – Trailers, Trucks, Conveyor Belts and Telehandlers.
Fertilising equipment and spreaders – Manure spreaders, Muck spreaders and Silage.
Harvesters and sorting equipment – Harvesters, Combine Harvesters.
Dairy machinery – Milking equipment, Dairy feed, Dairy Cattle, Housing and Sheds.
Grain and feed stores – Grain Sheds, Dryers, Bulk Sheds, Crop Store and Silos.

Richmond Asset Finances knowledge and understanding of the market has enabled us to help farmers with the ever changing challenges they face. This has enabled us to always offer the best deals that are around.

With all the experience we have you know you’re in safe hands. Whether that’s been for a new tractor, plough or baler or for grain dryers, silos or cow sheds Richmond Asset Finance knows exactly what farmers face and can help them with both the expected and unexpected costs.

Farm Machinery Finance by Richmond Asset Finance

10th December 2020 / admin / Comments Off

Richmond Asset Finance can finance any new or used piece of agricultural machinery and equipment with no age limitation, supplied by either a specialist agricultural dealer or bought privately through a fellow farmer or auction. Manufacturers subsidised finance is periodically available through Richmond Asset Finance.

Equipment we can finance include:

Tractors & self propelled
ATV & RTV
Grassland machinery
Cultivation machinery
Drilling & planting machinery
Harvest machinery
Livestock handling systems
Robotic milking systems
Grading lines
Farm security
Food processing units
Bottling plants
Livestock feed systems
Irrigation equipment

To find out if we can help finance your farm machinery in Yorkshire contact us today!

What are the types of agricultural finance?

30th November 2020 / admin / Comments Off

As farmers, your specialty more likely to be nurturing your animals, growing crops and harvesting to provide for the nation.

It’s unlikely to be in finance. We have answered some of the common questions we get asked:

There are a range of finance options available depending on what you need the finance for. It is best to speak to an experienced broker as they recommend an option which offers lower rates and lower repayments. Here are six to consider:

Asset finance – hire purchase or leasing options
Agricultural loans
Refinancing to release equity tied up in your existing machinery
Agricultural mortgages and bridging loans for farm and land purchases
Diversification finance
Renewable / green energy project finance

Farm Vehicle Finance

30th November 2020 / admin / Comments Off

Richmond Asset Finance can offer finance for all types of new and used vehicles used around the farm. Everything from quad bikes to commercial vehicles and trailers.

There are a wide range of finance options available to you – hire purchase, operating or finance lease, and conditional sale to lease back agreements.

Speak to our UK specialists in vehicle finance today and we can advise on the best option for you.

Quad Bike Finance
4×4 Pickups
Cars & Vans
Commercial Vehicles
Trailers

We can also help source your new vehicle as a significant discount over your local dealer.

Agricultural Equipment Finance

When you want to use better equipment to maximise the investment in your farm, then Richmond Asset Finance will take the hassle out of arranging finance to allow you to purchase agricultural equipment.

Investing in new equipment will improve your productivity and profits and make your life a bit easier.

We have access to over 150 lenders so we secure you the best deal on equipment finance we can. Here a few examples of equipment we can help with:

Irrigation Equipment
Livestock Handling Systems
Robotic Milking Systems
Food Processing Units
Feeding Systems
Water Tanks
Bottling Plants

Farm Finance Specialists

20th November 2020 / admin / Comments Off

Richmond Asset Finance are one of the UK’s leading brokers of farm finance for farmers in the north west including Yorkshire and Manchester.

We know that running a farm and looking at ways to minimise costs and increase your profits is not an easy task.

That is why UK farmers trust us to get them the best finance deal we can. Many farmers who we help have become repeat customers and friends.

They rely on us to arrange finance or loans for a range of agricultural assets – everything from chicken pullets, tractor finance to agricultural mortgages.

We can source great deals on almost every type of farm finance.

Farm Machinery Finance

Finance can be arranged for new or second hand farm machinery with no age limit*.

Whether you are looking to use hire purchase, lease or lease back agreements, we can advise you on the best options to secure the machinery you want.

Finance for machinery includes, but not limited to:

Tractors
Excavators
Combine Harvesters
Drilling & Planting Machinery
Cultivation Machinery
Grass Land Machinery

Tip for farm crime prevention

22nd October 2020 / admin / Comments Off

When winter is approaching and clocks go back an hour as British Summer Time officially ends, it is a good time for farmers to review their security.

Farms in the autumn and winter months are dark and secluded places and can prove an inviting target for thieves who will be looking to steal farm vehicles, fuel, tools and equipment.

Statistically, October and November are the two months of the year when police receive more reports of burglary than at any other time.

With their isolated countryside locations, farmhouses, outbuildings, barns, garages and sheds are all prey for would-be rural thieves, who use modern technology including drones, Google Earth and sat navs to pinpoint their entry and escape routes.

But there are a variety of measures you can take to protect your property, land and livestock and discourage potential thieves.

Fuel

Fuel thieves often target farms under the cover of darkness when they are able to drain tanks within minutes if they are not properly protected.

Thieves use anything from basic plastic tubes to pumping apparatus to siphon off hundreds of litres of red diesel from tanks and farm machinery, causing huge financial loss and inconvenience for farmers.

Tip

To prevent theft, fit fuel bowsers with wheel clamps or hitch locks. Tanks should be housed in a secure location – within a shed (in line with regulations) or in a compound, such as a locked metal cage.

Consider fitting a remote fuel monitoring gauge and alarm system. Install movement sensors, CCTV and lighting around the tank.

Store machinery inside sheds using layers of security and ensure tractors are locked up at night. If machines must be kept outside, park with fuel caps against a fence or wall.

Lighting and CCTV cameras

Isolated farm buildings down dark lanes are easy for thieves to approach and hide in the darkness. Make sure you light up areas in and around your home and buildings.

Tip

Motion-sensor security lighting and CCTV cameras are a good crime prevention and detection tool. Thieves don’t want to be seen.

Install lighting and CCTV in access locations, vulnerable areas and around the perimeter of farm buildings, yards and houses. Consider audible and monitored intruder alarm systems.

With improving technology in this area and a reduction in the cost of CCTV systems, they can be bought for fairly modest sums. Many suppliers offer subscription services with text alert systems linked to mobile phones, tablets or computers, allowing you to monitor the farm 24/7 from anywhere in the world.

Farmers are embracing new technology involving infrared beams that set off voice warning systems and relay live footage to mobile phones.

Considering a bridging loan?

3rd October 2020 / admin / Comments Off

If you are considering applying for a bridging funding, here are some helpful tips:

Compare products from different providers and be certain of the total cost of the loan, rather than just the interest rate. It’s tempting to go for the lowest interest rate, but lenders may charge large exit fees, fund management fees and other hidden costs. Always ask for a breakdown of the total cost before proceeding as this makes it much easier to evaluate different providers. Richmond Asset Finance are completely transparent and will always advise you.
When you are looking for a provider, make sure that the lender knows your timescales and check that they can deliver on time – don’t be afraid to ask questions and don’t waste your time with a provider which won’t be able to deliver.
The amount of money that you can borrow as a bridging loan can vary widely between applicants and is dependent upon several factors. These include the type of property being purchased/renovated/converted; the value of the property; the loan term and interest rate offered by the lender; and your security and proposed exit strategy.
You will need to inform your lender about the property, as it is this that is used to secure the loan (the sale of which is your exit strategy for the loan repayment); having an exit strategy in place is crucial to avoid running into difficulty.
The repayment terms can often be amended to suit you, however, you are usually required to pay back the loan within a year. The application process is typically far simpler than for other types of borrowing and applications can complete very quickly, usually in five to 14 days.