Category: Agricultural Industries (page 3 of 5)

Will Coronavirus affect my loan?

8th April 2020 / admin / Comments Off

Loan and credit card payments to be frozen for three months in UK.

The financial regulator has announced plans to freeze loan and credit card payments for up to three months as part of emergency measures for consumers impacted by the coronavirus outbreak. They have also announced plans to help businesses that are struggling in the current climate.

The new measures which could come into force by 9th April is aimed at consumers and renters who are not benefiting from existing relief measures that have targeted homeowners – with mortgage payment holidays – or business owners.

The FCA has advised that banks and credit card providers will have to ensure that consumer credit ratings are unaffected by any of the measures.

If you are looking for a loan or bridging finance for your business in the agricultural sector. Feel free to give us a call or email us today and we will be happy to help!

Starting a Farm – Mortgages and Finance

8th April 2020 / admin / Comments Off

Do you aspire to live in the country, where your partner will continue to work and you want to run a smallholding or are you starting a farm business?

Richmond Asset Finance often receives enquiries from customers who want to start a farm and we have the ideal farm loan for this type of scenario, whether short or long term Richmond Asset Finance can help.

Obtaining farm finance can be difficult, especially where accounting information may not be good enough for the banks.

You may qualify for finance on a long-term basis through Richmond Asset Finance, but we also have a great farm selection of loan products that fits the bill for a farm start-up.

What is farm finance?

An all embracing term we use to describe all types of farm and agricultural finance we arrange in the rural and country business sectors, which can also be described as agricultural finance, equestrian finance, land finance and horticultural finance, a farm mortgage or farm loan. Farm finance can be provided for farms of any size (with our without a farmhouse), holiday complexes, caravan parks, caravan sites, estates, land, buildings, working farms, non-working farms, nurseries, garden centres, smallholdings, estates, fisheries, farm shops, riding schools and generally all manner of rural properties or in some cases not so rural.

Why Richmond Asset Finance?

A well-established and reputable company.
A great team that will help you with every query you may have.
Hands on and experienced.
We work in partnership with our customers to help them achieve their goals.
References are readily available.

Richmond Asset Finance adding value to your farm equipment

23rd March 2020 / admin / Comments Off

Richmond Asset Finance offer financing solutions for farm equipment manufacturers and suppliers in the processing, handling, and storage industries. Plus commercial and retail finance solutions so that distribution partners and authorised dealers have an efficient global distribution network.

Richmond Asset Finance is an all embracing business and we cover 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, and generally all types of rural type situations.

What purpose might be appropriate for 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 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.

Maintenance tips to prolong your tractor’s lifespan

31st January 2020 / admin / Comments Off

Your tractor is likely to be one of your business’ most expensive assets, so it’s important to take the time to care for it to extend the lifespan of your investment.

These quick and simple tractor maintenance tasks can help to keep your tractor running costs down and prevent damage to prolong your tractor’s lifespan.

Regular inspections

One of the most important things you can do to look after your tractor is take the time to inspect its condition regularly. This will help you to spot any signs of wear or damage early on and take steps to repair it and prevent further damage. Check your tractor’s manufacturer’s manual for advice on how frequently it requires servicing and specific maintenance tasks to be carried out.

Store in a dry place

When your tractor is not in use it should always be stored in a dry place where it is protected from the elements. Being exposed to moisture for prolonged periods can cause your tractor’s parts to rust and corrode, causing damage and shortening its lifespan.

Clean the air filter

Your tractor stirs up a lot of dirt and dust as it is working, so it’s important to keep any eye on its air filters and clean them regularly. Blocked air filters can cause a build up of debris to gather on your tractor’s internal components, causing them to fail and shortening your tractor’s lifespan.

Top up the oil and coolant

Your tractor requires coolant to prevent it from overheating and oil to lubricate its moving parts. Without either of these liquids you could find yourself faced with expensive damage to your tractor’s engine. Create a maintenance schedule to help you to remember to check the levels of these important fluids regularly and top them up when necessary.

Check the tyre pressure

Without the right level of tyre pressure your tractor could end up working harder than it needs to. Check what the correct tyre pressure is in the manufacturer’s manual and get into the habit of checking the pressure regularly to keep your tractor operating efficiently and protect it from damage.

If you require help or advice with financing a new tractor, speak to our team here at Richmond Asset Finance. We provide a range of flexible agricultural finance services to help you to grow your business. To discuss your requirements in more detail, give our team a call on 0113 288 3277.

5 reasons to invest in a mini excavator

15th January 2020 / admin / Comments Off

Are you using your excavator to its full potential, or could you do the same job using a mini excavator?

Mini excavators are practical, affordable and hassle-free pieces of machinery.

Whilst they’re not always suitable for largescale jobs, if you can get away with using a mini excavator over a bigger wheeled, tracked or truck-mounted excavator then there are plenty of benefits to be had.

Manoeuvrability

The mini excavator is the perfect piece of machinery for working in small or tight spaces. It offers the same level of performance as a larger excavator but in a more compact and practical design. The small size of the mini excavator makes it nimble and agile on-site and means transportation is simple and hassle-free.

Easy to operate

Mini excavators tend to be very simple and intuitive to operate, reducing the amount of time required to train an operative to use the machinery and minimising the risk of errors being made.

Cost-saving

Mini excavators are more affordable to purchase and operate than their larger counterparts. They also offer higher fuel efficiency and lower fuel costs. Their relative ease of operation means training operatives will cost your business less time and money.

More environmentally-friendly

The small size and increased fuel efficiency make mini excavators more environmentally friendly to run than larger excavators. They also produce less noise pollution, making them ideal for use in noise and pollution sensitive areas.

If you require help or advice with financing a mini excavator for your business, speak to our team here at Richmond Asset Finance. We provide a range of flexible vehicle finance and asset finance services to help you to grow your business. To discuss your requirements in more detail, give our team a call on 0113 288 3277.

What to expect from the new John Deere combine harvester

19th December 2019 / admin / Comments Off

Agricultural tech and machinery company John Deere unveiled details about their new X9 combine harvester at the recent Agritechnica 2019 event in Hanover, Germany.

If you’re thinking about updating your combine harvester and are looking for a state of the art machine that can improve output and efficiency, then you may want to consider John Deere’s new X9 model.

The X9 was designed to help farmers with large farms and tough harvesting conditions to improve efficiency.

John Deere’s product manager Matt Arnold said: “the machine is suitable for small grains crops, pulse crops, canola, high moisture crop, soybeans, anything that’s either tough to thresh, green-stem material, high-material content.”

The company reports that the new model is capable of harvesting more than 100 tons of small grains or wheat per hour, with losses of less than 1%.

To help you to decide whether the new model would be suitable for your requirements, we’ve taken a closer look at some of the X9’s key technical details.

Greater inside width – The X9 is said to have the widest body in the industry, offering larger threshing and separation areas for improved capacity and crop flow.

Optimised chopper – The X9’s chopper is designed to maximise air flow volume and reduce the amount of energy required.

Data tools – The X9 is equipped with a selection of data tools including Operations Center, JDLink Connect and Combine Advisor to improve efficiency and make the machine simpler and more comfortable to operate.

Dual-axial rotor – Improves the combine’s separating ability to reduce density and maximise performance.

The X9 combine harvester is due to go on sale in June 2020.

If you require help or advice with financing a new combine harvester, speak to our team here at Richmond Asset Finance. We provide a range of flexible agricultural finance and asset finance services to help you to grow your business.

To discuss your requirements in more detail, give our team a call on 0113 288 3277.

CNG Fuels to provide UK’s HGVs with first carbon neutral fuel

5th December 2019 / admin / Comments Off

A carbon neutral fuel will soon be available to businesses running HGVs to help them to dramatically reduce their carbon emissions.

Based in the West Midlands, CNG Fuels are the UK’s top supplier of environmentally friendly bio-CNG (compressed natural gas).

The firm recently announced that they would be launching a new carbon-neutral fuel for heavy goods vehicles in 2021.

The new fuel will use manure to produce carbon neutral biomethane. Manure gives off the powerful greenhouse gas methane, but by using this methane as fuel it prevents it from entering the atmosphere.

With HGVs accounting for 4.2% of the UK’s carbon emissions, the introduction of a carbon neutral fuel has the potential to significantly reduce the UK’s overall emissions.

Philip Fjeld, CEO of CNG Fuels said: “We want to help decarbonise freight transport and enable fleet operators to meet net zero targets now, supporting the UK’s climate targets.”

CNG Fuels already supplies many businesses operating HGVs with a renewable biomethane fuel sourced from food waste. The company has become the fuel supplier of choice for several large companies including John Lewis, Hermes, Asda and Argos.

The company reports that switching from diesel to bio-CNG can reduce greenhouse gas emissions by up to 85% and cut fuel costs by 35-45%, making it a win-win for businesses operating HGVs.

CNG Fuels are also developing a network of public HGV refuelling stations on major routes throughout the country to support electric and hydrogen powered HGVs in the future.

Need some help financing new HGVs for your business? Here at Richmond Asset Finance we provide a range of flexible vehicle finance and asset finance services.

For more information or to discuss your requirements in more detail, give our team a call on 0113 288 3277.

New Cat 326 excavator can boost efficiency by up to 45%

6th November 2019 / admin / Comments Off

If you’re looking for ways to increase your construction team’s efficiency it could be time to upgrade to the new Cat 326 excavator.

Caterpillar’s new 26-tonne 326 excavator could boost efficiency by up to 45% when compared to older models.

This high performance machine also boasts lower fuel and maintenance costs and meets stringent emissions standards.

Performance

The 326 excavator features a new hydraulic system for better control and efficiency, including a 12% improvement in swing torque and a SMART-mode which matches engine speed and hydraulic power.

Caterpillar’s innovative new Swing Assist feature will automatically stop the excavator swing at predefined points, reducing effort and fuel consumption.

Technology

The machine uses integrated simple-to-use technologies to make it easy to operate. Just some of the convenient technologies that it incorporates includes:

Remote start using a Bluetooth fob.
Operator-specific programming.
High-res touchscreen monitor.
A digital version of the operator’s manual.

Comfort

As well as improving performance, the Cat 326 excavator will keep the operator feeling comfortable. Cab vibration is reduced by up to 50% when compared to other models and all models feature automatic climate control. The in-built radio also features Bluetooth connectivity, allowing operators to connect their own devices if required.

Maintenance

Fuel filters on the Cat 326 have a 1000 hour change interval and all maintenance tasks can be performed quickly from ground level. The machine also features improved hydraulic filter performance, reducing maintenance costs by 20% when compared to the Cat 326F.

If you require help or advice with financing a new excavator, speak to our team here at Richmond Asset Finance by giving us a call on 0113 288 3277. We provide a range of flexible vehicle finance and asset finance services to help you to grow your business.

How to reduce the cost of your HGV fleet

9th October 2019 / admin / Comments Off

Use these three ideas to cut the running costs of your business’ HGV fleet whilst also improving productivity and efficiency.

Many businesses that operate vehicles are currently facing challenges that mean they are under pressure to cut their fleet’s running costs.

Some of the key challenges facing transport operators today includes:

Rising fleet costs.
Driver shortages.
An unstable economic climate.
Market uncertainty.

In order to successfully cut costs, businesses must be creative and resourceful in how they operate.

Here are three ideas for effectively reducing the cost of your HGV fleet.

Update your fleet

Spending money on new vehicles may sound a little counterintuitive, but old and inefficient vehicles can be a real drain on resources. Not only do old and tired vehicles need more regular repairs and maintenance, they can also eat up a lot more fuel than modern vehicles.

Modern HGVs are generally safer, more comfortable to drive, and considerably more fuel efficient. The money you safe on maintenance and fuel across your fleet will mean that your investment is likely to soon pay for itself.

Driver training

Your team of HGV drivers are largely responsible for many of the costs associated with running your fleet, their behaviour can have a significant impact on fuel consumption, repairs and maintenance, and insurance costs.

Ensuring that all drivers receive adequate training, performance monitoring, and regular reviews can help to keep the cost of your fleet down.

Fleet management

Investing in fleet management software can help your fleet to become more organised, efficient, and cost-effective.

Fleet management software uses data and real-time information to monitor traffic and help your drivers to plan the fastest and most efficient routes, saving your business fuel, time and money. It will also track and log information about each of your drivers and their performance to use during training to help improve performance ongoing.

If you require financial help or advice with updating your HGV fleet, speak to our team here at Richmond Asset Finance by giving us a call on 0113 288 3277. We provide a range of flexible vehicle finance and asset finance services.

What you need to know about JCB’s first ever fully electric diggers

30th September 2019 / admin / Comments Off

The first of JCB’s fully electric diggers are rolling off the production line; here’s what you need to know about them.

JCB’s new 19C-1E electric digger can be used either indoors or outdoors but is expected to be particularly popular for indoor and inner-city projects where reducing noise and air pollution is especially important.

JCB Compact Products’ managing director Robert Winter said: “This is a historic moment for JCB and for JCB Compact Products.

“We are delighted to go into full production with the industry’s first fully electric mini excavator. The machine has a very promising future ahead of it.”

The first orders have already been delivered to customers across Europe and North America.

Here is the key information and standout stats about JCB’s first fully electric excavator:

They are five times quieter than JCB’s diesel diggers.
They can be fully charged for a day’s work in under 2 hours.
Charging costs are expected to be 50% cheaper than running a diesel model.
Servicing costs are expected to be up to 70% cheaper than a diesel model.

As evidence of the severe and rapid effects of climate change mount, businesses are coming under increasing pressure to become more sustainable and reduce their Co2 emissions.

Switching to electric vehicles can massively reduce your business’ carbon footprint, helping you to meet your corporate social and environmental responsibilities.

If you require help or advice with financing electric diggers, excavators, or commercial vehicles, speak to our team here at Richmond Asset Finance. We provide a range of flexible vehicle finance and asset finance services to help you to grow your business.

To discuss your requirements in more detail, give our team a call on 0113 288 3277.

To plough or not to plough?

20th September 2019 / admin / Comments Off

Humans have been ploughing the earth to grow food since the beginning of time, so why are some farmers now choosing to turn their back on this traditional technique?

Some farmers are now embracing new ways of working as they believe ploughing to be bad for the environment.

Ploughing and the environment

It is thought that dragging a plough through the earth several times a year disturbs the soil and the living organisms within it, which then has a negative effect on soil quality.

What’s the alternative to ploughing?

“No till” farming is a method of farming which eliminates ploughing and minimises soil disturbance. Instead, farmers ensure that soil is never left bare. As soon as one crop is removed, “cover crops” are planted to protect the soil and keep pumping nutrients into it.

This method also prevents earthworms and other important organisms from being disturbed, so that their numbers can grow, resulting in more nutrient-rich soil with improved structure and drainage.

Benefits of no-till farming

No-till farming can benefit both the environment and the farmer, here are just some of the benefits:

Reduces soil erosion.
Improves soil quality.
Builds soil organic matter.
Saves time on ploughing.
Reduces cost of labour and fuel.
Improves water absorption.
Reduces greenhouse gas emissions.
Natural weed control.
Healthier crops due to nutrient-rich soil.

What machinery is required?

Farmers undertaking no-till farming use a piece of machinery called a cross slot drill which drills seeds directly into the unploughed ground. Although the initial cost of the equipment is similar to that of tillage machinery, the operating costs are far less.

For help financing the purchase of agricultural equipment, speak to our team at Richmond Asset Finance on 0113 288 3277. We provide a variety of asset finance and agricultural finance services to help your farm business to grow and develop.

Financial incentives for switching to electric commercial vehicles

10th September 2019 / admin / Comments Off

Did you know that there are financial incentives available to help your business make the switch to cost-effective and environmentally friendly electric vehicles?

There is no time like the present to begin doing your part in looking after our planet and helping to tackle climate change.

There are many changes that businesses can make to become more socially and environmentally responsible. But for businesses that operate commercial vehicles, switching from petrol or diesel to electric vehicles is a good place to start.

Electric vehicles are virtually silent and emit zero emissions, so making the switch will go a long way in reducing your business’ carbon footprint.

Aside from the environmental benefits, there are also plenty of financial incentives out there to reward businesses that decide to make the switch, so what’s not to like?

Low running and maintenance costs

As well as looking after our environment, operating electric vehicles can help to look after your business’ finances too. Whilst electric vehicles can be more expensive to buy, this cost is offset by their comparatively low running and maintenance costs, making them a cost-effective option in the long term.

Tax incentives

Here are a few of the tax benefits that your business may be able to benefit from if it uses electric vehicles.

Enhanced capital allowance benefits– Claim the entire cost of the vehicle against taxable profits.
Exemptionsfrom the following:
fuel duty
vehicle excise duty
company car tax

Government grants

When purchasing an eligible electric vehicle for your business, you may be able to claim a discount using the government’s plug-in car grant.

Despite the grant’s name, it provides discounts for business’ purchasing electric cars, vans, motorcycles, mopeds, taxis and trucks, providing they are on the eligible vehicles list.

The grant is worth 35% of the vehicle price for electric cars (up to a maximum of £3,500) and 20% of the vehicle price for electric vans (up to a maximum of £8,000).

Finance

Need further help financing one or more commercial electric vehicles? Here at Richmond Asset Finance we provide a range of flexible vehicle finance and asset finance services to help you grow your business.

For more information about our services, or to discuss your requirements in more detail, give our team a call on 0113 288 3277.

4 benefits of switching to electric commercial vehicles

4th September 2019 / admin / Comments Off

Switching from petrol or diesel commercial vehicles to electric vehicles is not only a practical change, but a cost-effective one too.

As concerns about climate change and the environment mount, businesses are under increasing pressure to make more environmentally conscious decisions.

Electric vehicle technology is rapidly evolving, and electric vehicles are now becoming a more practical, attractive and accessible option for businesses of all shapes and sizes.

Many businesses are put off making the change because the initial outlay for electric vehicles may seem high when compared to comparable petrol or diesel models. However, the low running cost of electric vehicles offsets the initial expense and makes it a cost-effective decision in the long-term.

It is also an extremely worthwhile investment when you consider the difference in will make to your business’ carbon footprint.

Here are the 4 top reasons your business should consider switching to electric commercial vehicles.

Low running costs– Generally, the cost of running an electric vehicle is cheaper than the cost of running a petrol or diesel vehicle because electricity is cheaper per mile than fuel.

Reduced maintenance costs – Electric vehicles are functionally simpler and have fewer moving parts than their non-electric counterparts, making them considerably cheaper to maintain.

Environmentally friendly – Investing in electric vehicles will help your business to meet its environmental and social responsibility. As well as producing no CO2 or harmful greenhouse gasses, electric vehicles reduce air and noise pollution. Making the switch will help your businesses to reduce its carbon footprint and become more sustainable.

Employee satisfaction – Electric vehicles, particularly when used primarily for short trips around the city, are convenient and comfortable to drive. As well as using state-of-the-art technology, electric vehicles are smooth-running, emit zero fumes, and are virtually silent, providing the driver with a relaxing and pleasurable ride.

Need some help financing one or more commercial electric vehicles? Here at Richmond Asset Finance we provide a range of flexible vehicle finance and asset finance services to help you to grow your business.

For more information about our services, or to discuss your requirements in more detail, give our team a call on 0113 288 3277.

More property investors using bridging loans

18th August 2019 / admin / Comments Off

Recent statistics show that the demand for bridging loans is continuing to grow, particularly in the property investment market.

Whilst property investors may be shunning commercial properties amidst Brexit uncertainty, the market for residential property investment in the UK is still booming.

Recent figures show that investment in UK residential property rose by a huge 150% in 2018.

Tighter mortgage lending criteria has created a higher demand for rental properties. The high demand has caused a shortage of rental properties, allowing landlords to charge higher rent. These factors combined with a slight decrease in property value have made residential buy-to-let properties a valuable investment.

As more property investors seek opportunities to buy properties in the residential sector, the demand for bridging loans has also increased.

In fact, the latest ‘Bridging Trends’ report found that for the second consecutive quarter the commonest use of bridging finance was to buy investment property.

According to the report, 25% of bridging loans were taken out to fund the purchase of investment property, that’s up from 22% in the first quarter.

Bridging finance is the ideal solution for property investors looking to grow their portfolio as it allows them to move on a purchase quickly whilst the price is low. Without access to a bridging loan it is easy to miss opportunities whilst trying to raise funds.

Here at Richmond Asset Finance we provide flexible commercial bridging loanssuitable for property investment, buy-to-let, and land purchase and development.

For more information about our commercial bridging loans, or to discuss your requirements in more detail, give our team of experts a call on 0113 288 3277 and we’ll be happy to help.

Could investing in agroforestry increase your farm’s income?

10th August 2019 / admin / Comments Off

An agroforestry system could help your farm to become both more productive and more sustainable.

As we begin to feel the effects of climate change, farmers are under pressure to make their business’ more sustainable.

Combined with the impending changes the industry may face as result of Brexit, these are uncertain times for farmers.

A new handbook published in collaboration with the Farm Woodland Forum and the Soil Association, has hailed agroforestry as a solution for both increasing farm productivity and making farms more sustainable.

We’ve looked at what agroforestry is and how it can benefit your farm and the wider environment.

What is agroforestry?

Agroforestry is the process of growing trees or shrubs within or around farmland.

Incorporating trees into farmland has numerous benefits for both the environment and the farmer.

Environmental benefits of agroforestry

Helps to cut greenhouse gas emissions.
Habitat for wildlife.
Improves biodiversity.
Improves soil quality.

Benefits of agroforestry for the farmer

Improves welfare of livestock.
Improves soil quality.
Creates a microclimate for crops.
Additional income from fruits and nuts from trees.
Additional income from timber later down the line.
Replace imports with homegrown products (e.g. mulch, fuel wood, animal bedding, timber posts)

Increasing your farm’s income with agroforestry

According to the new handbook, improving animal welfare with trees can boost farm productivity, resulting in a 17% increase in milk production and a 50% reduction in lamb mortality. It finds that agroforestry systems are often 30% more productive than monocultural systems.

Financing agroforestry

Here at Richmond Asset Finance, we offer a variety of agricultural finance products to help your agricultural business grow. We can provide effective farm finance strategies for various sized projects.

To find out more about our farm finance options, or to discuss your requirements in more detail, give our team a call on 0113 288 3277.