Category: Asset Finance Can Help Your Business (page 2 of 4)

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.

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.

How can telematics improve your commercial fleet’s efficiency?

12th December 2019 / admin / Comments Off

Installing telematics in your business’ commercial vehicles could help to significantly improve your fleet’s performance and efficiency.

Telematics are small boxes that are fitted inside commercial vehicles to collect valuable data and information.

This information can then be used by your business to monitor vehicle and driver performance.

Just some of the information and data that can be monitored using telematics includes:

Fuel consumption
Speed
Driving patterns
Routes taken
Vehicle performance

You can then work together with your fleet drivers to make changes to the way they work in order to improve performance in several key areas including:

Efficiency – Telematics can be used to help drivers to work more efficiently by choosing the fastest routes and avoiding traffic. A more efficient fleet will also reduce operating costs by increasing fuel efficiency.

Safety – Telematics can help to flag up unsafe driving habits including harsh breaking or accelerating and speeding. Ensuring that your drivers are driving safely can help to reduce costly damage to vehicles and the risk of accidents occurring.

Vehicle performance and maintenance – Set up your telematics to send alerts about your vehicles’ performance to help you to keep on top of maintenance tasks to reduce the need for repairs and keep your vehicles running smoothly.

Operating costs – By honing driver and vehicle performance using the data gathered by telematics you could significantly reduce your fleet’s overall operating costs. This is achieved primarily by improving fuel efficiency, reducing the number of accidents, and keeping up with vehicle maintenance.

Driver job satisfaction – Telematics provide fleet drivers with the data they need to perform better in their jobs. Providing your drivers with modern telematics technology can help to make their jobs easier and more rewarding, resulting in happier, more productive employees.

If you require financial help or advice with updating your commercial 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.

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.

How to prepare your commercial fleet for winter

20th November 2019 / admin / Comments Off

Prepare your fleet of commercial vehicles for the colder weather to keep them running efficiently through the winter months.

Treacherous wet, icy and windy weather can pose significant problems for drivers and fleet managers during the winter.

The key to keeping your fleet operating smoothly during this time is good preparation.

Service

Putting your fleet through a thorough inspection or service prior to the cold weather kicking in can help to pick up any problems or damage to the vehicles. Making sure your fleet is in tip-top condition and are all topped up with engine oil and wiper fluid can help to prevent accidents and costly down-time once the bad weather hits.

Inspect tyres

When inspecting your vehicles, be sure to pay careful attention to the condition of the tyres which need to be in excellent condition to manage wet and icy roads. Look out for signs of damage or excessive wear and make sure they are pumped up with enough air.

Winter tyres

Many fleet managers use winter tyres if their fleet are likely to be visiting remote areas frequently. Winter tyres have better grip and can help to reduce the risk of accidents and breakdowns in ice and snow.

Educate drivers

One of the best ways to keep your fleet safe during the winter is to educate your drivers in how to drive in poor weather conditions. Refreshing their knowledge of safe stopping distances and how to adjust their driving for snow and ice can help to minimise breakdowns and accidents.

Emergency packs

Always make sure that your fleet are kitted out with winter survival packs for when they’re out on the road. At minimum, all emergency kits should contain a blanket, de-icer, scraper, torch, high visibility jacket, and extra screen wash.

If you have concerns about the condition or efficiency of any vehicles in your fleet, then it can be a good idea to update them before the winter season.

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.

Agroecological farming methods and how to finance them

3rd August 2019 / admin / Comments Off

Agroecological farming methods can increase productivity and help farms to become sustainable.

The farming industry is under increasing pressure to become more sustainable to help tackle the UK’s climate crisis.

Environmental issues that farms contribute to include deforestation, wildlife loss, soil degradation and pollution.

An independent RSA report by the Food, Farming and Countryside Commission has said that the UK must completely transition to a sustainable food system and agroecological farming methods by 2030 or face further climate breakdown and the continued rise in diet-related ill-health.

Agroecology is the science of sustainable farming. Agroecological farming using farming methods that work with and enhance natural and social systems.

These natural methods can produce healthier, more nutritious food, increase farm productivity, and make agriculture more sustainable and environmentally friendly.

Examples of agroecological farming methods include:

Organic farming– An environmentally friendly method of farming that uses ecological pest control and biological fertilisers instead of chemical pesticides and synthetic fertilisers.

Agroforestry – The planting of trees in and around farmland to look after the environment and improve a farm’s productivity.

Pasture-fed livestock– Livestock that roams freely and eats a primarily foraged diet rather than being fed foods like cereal and soya.

Conservation agriculture– Using farming practices such as crop rotation, cropping system diversity, soil covers, and minimum soil disturbance to manage and protect the soil.

Biological pest control–This agroecological farming practice uses natural enemies including predators and pathogenic nematodes to control pests.

Financing the transition to agroecological farming methods

Within the report, the commission warned that farmers will struggle to completely transition without “stable” policy, regulation, advice and access to finance and innovation.

Here at Richmond Asset Finance we understand the unique financial challenges that farmers face today. We help farmers grow their business by providing flexible agricultural finance and effective farm finance strategies for various sized projects.

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

Hard assets and soft assets explained

21st July 2019 / admin / Comments Off

Assets can be roughly divided into two categories, hard assets and soft assets, do you know the difference between each?

Asset finance helps businesses of all shapes and sizes to acquire the assets they require to grow and be prosperous.

The types of assets that your business requires to move forward will depend on a variety of factors including your industry, your business plan, and how established the business is.

Generally, assets are said to either be hard assets or soft assets.

Hard assets

Asset finance is most commonly used to acquire hard assets. Hard assets are usually physical, high value items that are essential to a business’ operation. This could include the following:

Commercial vehicles
Manufacturing equipment
Printing presses
Machinery
Construction vehicles
Plant equipment
Engineering equipment
Agricultural machinery

Financing hard assets provides finance companies with good security as the assets tend to retain value for many years, even at the end of their lease.

Soft assets

Soft assets may be more difficult to obtain with asset finance as they pose a bigger risk to the finance company. Soft assets are lower value items and have little or no value by the end of their lease. Examples of soft assets include:

Computer hardware and software
Office furniture
Security systems
Air conditioning systems
Electronic Point of Sale systems

If you require soft assets, then you may still be able to acquire them using asset finance by providing some additional security. This could include a deposit towards the asset, a director’s guarantee, or securing the asset with another existing asset to offset the risk. However not all asset finance companies will provide funding for soft assets.

Find out more about our asset finance solutionshere at Richmond Asset Finance by giving our team a call on 0113 288 3277 to discuss your requirements in more detail.

Asset finance market continues to show signs of growth

15th July 2019 / admin / Comments Off

After a record-breaking year for asset finance in 2018, the flourishing industry continues to show signs of growth for 2019.

In 2018 the asset finance market grew by 3%, hitting a new record level, with new business totalling over £33 billion.

As we entered 2019 the financial insecurity of Brexit was looming and it seemed uncertain whether this growth was sustainable, but statistics so far this year have shown continued growth.

Figures recently released by the Finance and Leasing Association (FLA) show that asset finance new business, for deals of up to £20m, grew by 6% in May compared to the same month last year. New finance for plant and machinery grew by 8%, as did commercial vehicle finance.

This follows the news that new business is up by 8% for the industry in the first five months of 2019.

It appears that more businesses than ever are turning to the asset finance industry this year for help growing their business.

In fact, according to the FLA, in the first quarter of 2019 the percentage of UK equipment investment being funded by asset finance stood at 38%, the highest it’s been for more than a decade.

It’s easy to see the appeal of asset finance to businesses. Acquiring assets and repayment is affordable, fast and uncomplicated when compared to applying for a traditional bank loan or overdraft.

Asset finance is currently the third most popular form of business finance after bank overdrafts and loans, helping thousands of businesses to obtain the assets that they require to develop and grow.

Here at Richmond Asset Finance, we provide a variety of flexible finance solutions including asset financeand refinance. For more information about any of our services, or to discuss your requirements in detail, give our team a call on 0113 288 3277.

How bridging loans can help businesses affected by seasonality

15th June 2019 / admin / Comments Off

Commercial bridging loans provide businesses affected by seasonality with funds to bridge the gaps between seasonal peaks and troughs in revenue.

Seasonality is a challenge faced by businesses in a variety of industries whereby they experience recurring peaks and troughs in income throughout the year.

One of the commonest causes of seasonality is the weather. Many businesses thrive during the warmer summer months and then see a sharp decrease in revenue when the weather is wet and cold.

The weather is by no means the only cause of seasonal dips though. Other factors that could cause seasonal changes in revenue include the economy, university terms, and special celebrations like Christmas, Valentines’ Day, Easter, and Mothers’ Day.

Tackling seasonality

Businesses that are affected by seasonality should take the time to analyse their performance throughout the year and understand when and why these dips and troughs occur. Once they have a good understanding of what is happening and why, they can adjust their budget throughout the year accordingly and make plans to drive sales or push alternative sources of revenue during the dips. This could involve setting up a side-project, running special offers, boosting marketing efforts, and hiring seasonal staff.

Even businesses that have prepared and planned for seasonal dips may find themselves struggling with cash flow during these quieter periods though. This is when a bridging loan may come in handy.

Bridging loans to finance seasonality

Bridging loans offer businesses affected by seasonality a quick way of acquiring the funds they require to tide them over during a seasonal dip.

As well as being useful for keeping the business afloat and paying for unexpected expenses during quieter periods, bridging loans can also be useful for maximising profits during peak periods.

Businesses that experience significant increases in demand at certain times of the year will need to inject large amounts of money into buying stock and hiring staff before they enter their busy periods. A bridging loan allows them to acquire more inventory and cover greater expenses to further increase sales during these seasonal peaks.

At Richmond Asset Finance we provide flexible commercial bridging loansto help with your business’ immediate financial requirements during seasonal peaks and troughs. To find out more about our bridging loans, give our team of experts a call on 0113 288 3277.

Sources of finance for start-up businesses

6th June 2019 / admin / Comments Off

Finding the funds to get your start-up business off the ground and turning a profit can be challenging, here’s where to start.

Growing a new business can be difficult without a healthy cash flow. Purchasing business premises, investing in stock, hiring people, and marketing your new venture all costs money.

Finding the best finance solutions to meet your start-up’s specific requirements is key to setting up and growing a successful and profitable business.

Here are the five key sources of finance that every start-up business should consider.

Personal sources

Personal sources of finance should be a given, these can include savings, personal credit cards, collateral from assets, and loans from friends and family members. Investing your own money gives others confidence in your new venture and your commitment to it.

Government grants

Acquiring a government grant can be a lengthy and laborious process, so whilst extremely valuable, a grant is unlikely to help in the short-term if you need money fast. Grants are usually awarded to businesses working towards a specific aim, and the criteria for eligibility can be very niche. Business ideas in sectors that make a significant contribution to society are more likely to be eligible to a government grant, particularly environmental projects and businesses working in renewable energy, the local community and innovative science.

Banks

Banks can offer your start-up business a range of flexible finance solutions to suit your needs. Bank overdrafts can provide short-term finance, whilst a bank loan is designed as a longer-term borrowing solution.

Commercial finance broker

Professional commercial finance brokers like our team here at Richmond Asset Finance are experienced at helping start-ups to find the most suitable finance solutions. Financing options that can be particularly useful for start-ups include asset financeand bridging loans, both of which can help you to gain the assets you require to get your new venture up and running.

Investors

Angel investors are wealthy individuals who seek opportunities to invest in start-up companies. It can be very useful to have an angel onboard with your start-up business as they are often willing to contribute experience and contacts to your business in addition to cash.

For more information about any of our commercial finance solutions, give our team of experts here at Richmond Asset Finance a call on 0113 288 3277.

Four times a bridging loan could help your business grow

6th June 2019 / admin / Comments Off

Bridging loans offer a quick and simple way of raising finance to take advantage of time critical business opportunities.

Whether you’re a new start-up or a well-established business, finding a large sum of money for a new investment at very short notice can be difficult and risky.

However, regularly allowing opportunities to pass you by can be just as damaging, making it difficult to keep up with competitors and preventing growth.

This is where bridging loans can help.

A bridging loan is a short-term funding solution that bridges a gap between a debt becoming due and credit becoming available.

Here are four times when a bridging loan could help your business to grow.

New equipment or machinery– A bridging loan can be used to purchase new equipment or machinery to increase the efficiency, output, or cost-effectiveness of your business’ production process.

Investment opportunities– Profitable investment opportunities don’t come around every day, but when they do you want to be able to snap them up. From new business partnerships to new stock, investing in fresh opportunities is what keeps your business current, competitive and profitable.

Buying property or land– Bridging loans are most commonly used for purchasing property or land and developing it. When buying property, time is of the essence, and applying for a mortgage can be a lengthy process. Bridging loans are ideal for raising funds very quickly to bridge the gap until the mortgage comes in.

Start-up costs – If you’ve identified an opportunity for a new business venture then you’ll want to act quickly to capitalise. A bridging loan can provide you with the funds you need to get your new business off the ground or market your idea.

For more information about commercial bridging loansor to discuss applying for one, get in touch with our team here at Richmond Asset Finance by giving us a call on 0113 288 3277.

Using livestock lending to improve the genetics of your animals

30th May 2019 / admin / Comments Off

Whether you’re a beef or dairy farmer, improving the genetics of your herd has countless benefits to both your animals’ welfare and your profit.

If you’re considering increasing the size of your herd, choosing animals with superior genetics will increase the profitability of your investment.

Here are just a few of the key benefits of investing in livestock with superior genetics.

Improve animal welfare– Genetically superior animals should be healthy and resilient, giving them a better quality of life and making them a more ethical investment.

Resist diseases– Disease in livestock has a devastating financial impact on farmers. Livestock with superior genetics are better at fighting disease, making them a more reliable investment.

Reproduction rates – Genetically superior livestock are a cost-effective investment as they are bred to have better fertility and survival rates.

Increased production– Farmers are always looking for ways to improve the efficiency and production rate of their livestock to elevate profits. Livestock can be bred with genetics that relate to traits like better marbling of meat, fat depth or muscle score to improve the value and appeal of the product.

Climate-friendly– Improve your farm’s social responsibility by factoring into your buying decision the impact that your livestock has on the environment. Livestock bred with a higher feed conversion efficiency emit less methane into the environment.

Feed efficiency– As well as being more environmentally friendly, livestock with a high NFE (net feed efficiency) rating can reduce animal feed expenses whilst increasing production rates to improve your margins.

Funding the purchase of livestock

Livestock lending services make growing and improving the genetics of your farm’s herds an affordable investment. Depending on your requirements, here at Richmond Asset Finance we offer both short and long-term livestock lending solutions.

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

How farm finance products can help farms become more sustainable

15th April 2019 / admin / Comments Off

The farming industry is under increasing pressure to operate more sustainably. Here’s how farm finance products can help farmers to achieve this goal.

Sustainability, climate change, and animal welfare are all hot topics. As vegan and vegetarian diets grow in popularity, more people are becoming interested in the environmental impact of agriculture, particularly the farming of cattle for beef.

What is sustainability?

To be sustainable is to look after the environment and renew resources at a rate equal to or in excess of the rate at which you use them. In order to become more sustainable, farmers must adopt environmentally friendly practices and find ways to improve the efficiency of their processes.

Which areas of farming can this be applied to?

When looking at the way you run your farm there are likely to be many areas where you could make improvements to become more efficient and sustainable.

Just a few areas you may identify include:

Feeding livestock.
Breeding livestock.
Manure management.
Looking after soil.
Tools, tech, and machinery.

Tools and equipment for agricultural sustainability

As well as changing and improving existing processes, farm machinery and equipment play an important role in a farm’s sustainability.

If you are using old or outdated machinery, upgrading could lower your farm’s environmental impact. Modern machinery is often built to be more intelligent and efficient with sustainability in mind.

Just a few sustainability problems that modern machinery can solve include:

Machinery that produces fewer emissions.
Machinery that consumes less power and uses fewer resources.
Machinery that can apply chemicals with greater precision.
Micro-sprinklers and drip irrigation technologies to save water.
Smart technology like crop sensors and drones to improve efficiency of processes.

Farm finance products to fund sustainability

Adopting modern farm machinery isn’t just about being kinder to the environment, it also makes good business sense. Working smarter and more efficiently will also help to save you time and money, making modern farm machinery and technology an excellent investment for the future.

If you need help financing new farm equipment, then there are a variety of farm finance products on the market to choose from. The farm finance product suitable for you will depend on your current situation.

Get in touch with our team of specialists here at Richmond Asset Finance for free farm finance help and advice by calling us on 0113 288 3277 to discuss your requirements in more detail.

Why are so many UK farmers choosing to diversify?

30th March 2019 / admin / Comments Off

In today’s uncertain economic climate, many UK farmers are choosing to diversify their businessto boost their income.

Government figures show that 62% of UK farmers are now diversifying into other business opportunities to top up the income they make from traditional farming.

According to Farming UK, of the 62% of farmers that have diversified, 94% of the schemes have been financially successful.

So, if you’re not yet diversifying, it may be worth doing some research and speaking with an expert about rural finance to find out if you can get some help with financing your diversification scheme.

Why diversify?

With over half of those farmers diversifying reporting that the income from their alternative business has become ‘vital’ or ‘significant’ to their farm, can farmers afford not to diversify?

Key factors that are pushing farmers in the UK to diversify include:

Disease in farm animals.
Increased competition.
Falling price of milk.
Subsidies falling away.
Brexit uncertainty.

As with any business, it makes sense for farmers to avoid putting all their eggs in one basket (excuse the pun).

With many farmers owning a substantial amount of land, it makes good business sense that they use all land and buildings owned to their full advantage. Diversifying into alternative markets like leisure and tourism and renewable energy allows farmers to boost their income.

Rural finance to aid diversification

To find out if you can apply for rural finance to help with your diversification scheme, get in touch with our team here at Richmond Asset Finance to discuss your plan in more detail.