Category: Bridging Loan (page 1 of 5)

Tractor Finance UK

5th July 2021 / admin / Comments Off

Asset Finance focused on you from Richmond Asset Finance

We know how important it is for your business to have access to the right equipment and machinery. But we also know that it can be difficult to purchase these vital resources without making a significant dent in your working capital. Our Asset Finance department at Richmond Asset Finance can help you find the right solution for you and your business. We offer a comprehensive range of finance options, flexible repayment terms and competitive rates.

What is Asset Finance?

Asset Finance is a loan that you can take out to buy or hire assets that your business requires to succeed. This can cover a wide range of equipment, but in agriculture this is primarily machinery.

How will Asset Finance help my business?

Asset finance is an alternative way of purchasing equipment, rather than borrowing from your bank. You can start using the asset straight away without having to find a large lump sum to put down, and you can pay back the cost of the machine over a flexible repayment plan that suits your business cash flow. Put the machine to work straight away and it is starting to payback its cost.

There are a number of types of asset finance contracts some will suit your business more than others. These include:

Hire Purchase

Hire Purchase agreements involve you paying an initial deposit followed by fixed term instalments for the agreed term of the loan after which the asset becomes yours. Instalments are arranged to suit your cash flow, eg, monthly, quarterly or annually.

Finance Lease

This is very similar to hire purchase but the VAT is paid on the instalments rather than in full up front. The customer does not automatically own the asset at the end of the agreement.

Plant Hire & Machinery Specialists UK

19th May 2021 / admin / Comments Off

PLANT HIRE FOR ANY SITUATION FROM RICHMOND ASSET FINANCE.

At Richmond Asset Finance, we specialise in sourcing and funding plant and machinery hire for companies across the UK. Whether your company needs to hire diggers, excavators, dumpers or any other heavy-duty equipment, our expert team can help create a tailored financial package for even the most complex payment structures.

Plant hire through a broker allows companies to focus on what they do best while still receiving the most competitive pricing on their funding.

As one of the leading independently owned Asset Finance companies in the UK based in Yorkshire, we are experienced in providing plant hire for a range of companies. We take pride in building long-term relationships with our clients and lenders to achieve the very best rates and giving the best advice to all of our clients. Get in contact with us below to find out how we can help you.

PLANT HIRE & MACHINERY FINANCING OPTIONS

Depending on your companies circumstances, we can offer a wide range of tailored financial solutions for your company. Each product has its benefits so it’s important to choose the right one for your asset financing.

Some of the financial options available include:

Hire Purchase (HP)
Finance Lease
Refinancing

If you’d like to receive a quote, or just have a question about asset financing, get in touch with us through the contact form below.

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.

What is asset finance?

9th March 2021 / admin / Comments Off

Asset Finance very often associated with the purchase of equipment or agricultural equipment for a business. This type of finance is used by organisations who have the need or the opportunity to grow their business but perhaps may not have the funds readily to hand or prefer to spread the cost over a longer term.

In other cases, a business can use assets they own – such as plant, machinery or vehicles – as security against a loan from an asset finance provider.

Where a business requires the purchase of a new physical asset the finance company will pay for the equipment, plant, vehicle or machinery and the client will pay a regular sum to the provider.

The item may eventually become the property of the business over time, depending on the sort of asset finance involved.

What is an asset?

An asset is an object or resource that has a value and can be converted into cash. Assets can be owned by a company, government or individual and can help these organisations to deliver their purpose or generate an income.

Who is asset financing a good idea for?

Asset financing is suitable for a wide range of businesses and organisations, including sole traders and small to medium-sized enterprises, as well as larger companies and corporations. In the past, this tended to be an avenue only used by bigger businesses, but with the minimum levels of finance available being lowered, this has now become a more widespread option for all kinds of businesses seeking asset-based finance.

However, it should be noted that some providers tend to specialise in certain company types, such as limited companies, public limited companies (PLCs) or similar.

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.

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.

What is the importance of finance in agriculture?

20th December 2020 / admin / Comments Off

Farmers have been getting squeezed over the years often experiencing lower margins on their produce.

Whereas, the cost of operating a farm requires cash injections for a variety of reasons, such as, allowing farmers to replace machinery, invest in new efficient energy power, build new stores, purchase cattle etc.

For most farmers, accessing finance through traditional lenders such as banks is becoming more difficult and time consuming.

Using a specialist agriculture finance broker such as Richmond Asset Finance, can offer farmers preferential rates and flexible arrangements – and often much quicker.

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 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.

Yorkshire Machinery Finance for Farms

25th September 2020 / admin / Comments Off

From tractors, headers or balers, if it’s part of a working farm Richmond Asset Finance can finance it! At Richmond Asset Finance we have access to an experienced panel of lenders so we can bring you only the best finance options for your farm machinery and business.

Agriculture is very diverse and we also understand that that some farmers have seasonal income, so we can tailor seasonal loan structures for certain applicants if the situation calls for it.

We also understand that a 1998 tractor might still be in good working condition, so older farm machinery can be financed from both private sellers and dealers. Simply ask us for more details.

We can offer agriculture finance loans for the following vehicles and equipment:

Tractors
Harvesters
Spraying Equipment
Spreaders
Seeders
Offset Disc
Balers
Irrigation
Telehandlers

Have farm equipment or machinery that’s not on the list? Call us and we’ll be happy to help: 0113 288 3277

Your agricultural equipment finance options

18th September 2020 / admin / Comments Off

Whatever you want to finance from biomass boilers to bailers, our range of equipment finance options are tailored to fit yours and our businesses needs. Read more about the ways in which we can help finance your farming assets or get in touch with our experts from Richmond Asset Finance for a quote.

Hire Purchase

Flexible interest rates – With a choice of fixed or variable rates, you could make the choice that suits you and your business best.

Finance Lease

Enjoy the benefits of ownership without the risk like depreciation or time and costs of disposal.

Operating Lease

Lease high value equipment and enjoy lower monthly repayments and reduced risks.

Sale & Leaseback

Release capital tied up in your assets and increase your cash reserves to invest in your business.

Why finance your agricultural equipment with us?

We know that different types of farming businesses have different needs. Our dedicated agricultural asset finance team specialises in finding the right solutions to help fund new and used farming equipment. And through our in-depth understanding of your business, our relationship managers could help you overcome the challenges of financing business growth.