Category: Business Finance Options (page 3 of 3)

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.

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.

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.

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.

Using rural lending to diversify…

29th April 2019 / admin / Comments Off

…into alternative livestock and crops

Rural lending opportunities could help farmers to boost their income by giving them the means to diversify into alternative livestock and crops.

Many farmers are feeling the pinch of increased competition, Brexit uncertainty, and the falling price of milk. In an uncertain economy and a changing industry, diversifying can bring in a valuable source of extra income.

According to Countryfile, over half of the UK’s farmers have now diversified in some form.

Some farmers are choosing to diversify into very different areas like leisure and tourism, which require significant investment to set up. Diversifying into alternative crops and livestock is less of a jump, uses existing skillsets, and is often more affordable.

Alternative livestock and crop ideas

Here are just a few popular alternative livestock and crop diversification ideas to inspire your new venture.

Goat or sheep milk.
Quail or duck eggs.
Wild boar.
Ostriches.
Angora rabbit wool.
Llama or alpaca wool.
Edible flowers or herbs.
Pharmaceutical crops.
Free-from crops.
Pumpkins.
Christmas trees.

Rural lending opportunities

For many farmers, diversification is becoming a necessity to stay afloat rather than an option. Whilst diversifying can be daunting, the results can be exciting and rewarding.

For most farmers, taking the plunge and deciding to diversify is aprofitable decision. Some farmers even find that their side-project grows into their main business. However, finding the funds to set it up in the first place can be challenging.

Rural lending opportunities provide farmers with the means to expand and grow their business. Whatever your circumstances, it is worth speaking with a specialist rural lending business like our team here at Richmond Asset Finance to find out more about how our short-term and long-term rural lending services can help you to grow your business and income.

To discuss your vision in more detail, receive free help and advice, or find out what rural finance options are available to you, give our team a call on 0113 288 3277.

Agricultural equipment that can help to lower ammonia emissions

10th April 2019 / admin / Comments Off

Farmers are being encouraged to invest in new agricultural equipment and tools to help them to lower their ammonia emissions.

Particulate matter is a type of airborne pollution made from a mixture of small solid particles and liquid droplets including organic chemicals, dust, and acids.

Particulate matter can be inhaled and has been linked to several health problems as well as damage to wildlife habitats and wild plant species.

Agriculture creates a large amount of ammonia emissions, which play a key part in the formation of particulate matter. Levels of ammonia and particulate matter in the atmosphere are monitored closely by DEFRA.

What causes ammonia emissions?

According to Farmer’s Guardian, around 87% of the UK’s ammonia emissions come from farming activity.

Just some of the agricultural causes of ammonia emissions include:

Manure application.
Livestock housing.
Sewage sludge application.
Manure storage.
Fertiliser application.
Livestock grazing outdoors.

Tackling ammonia emissions

Ammonia emissions from agriculture have been in the spotlight recently after the government launched aClean AirStrategyearlier this year to cut air pollution.

Farmers are being urged to invest in agricultural equipment and machinery that will help them to reduce their ammonia emissions.

To reduce emissions farmers need to find ways to retain the valuable nitrogen found within manure and slurry and then apply it using low-emission techniques.

Just a few types of agricultural equipment that can be used to lower ammonia emissions include:

Covers for slurry tanks and solid manure.
Specially designed livestock housing that reduces the amount of slurry exposed to air.
Low emission spreaders.

Funding agricultural equipment to lower ammonia emissions

You may be able to receive help and funding towards the costs of agricultural equipment to lower ammonia emissions through government schemes like the Clean AirStrategy, Countryside Stewardship Scheme, and Countryside Productivity Small Grant Scheme.

If you don’t qualify for funding or require further financial help, then Richmond Asset Finance provide a range of farming finance products to help you acquire the agricultural equipment you require.

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

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.

Farmers – Are You Exploiting This Tax Allowance?

8th February 2019 / admin / Comments Off

It may not be all good news for farmers this year but there is one particular piece of news that every farmer should be aware of and that relates to an opportunity to take advantage of machine purchases with the help of the government.

Farm machinery is often a major purchase with tractors alone costing in excess of £100,000 so if these savings can be offset it has to be good news. Fortunately, the government stepped in to help farmers with a change to the Annual Investment Allowance that will go a long way towards helping farm businesses make some big investments in farm machinery.

The fact that the move isn’t permanent should alert farmers to take advantage before 2021. The AIA threshold was £200,000 in 2018 and this has temporarily risen to £1million for the next 2 years.

With a lot of uncertainty at present and for the future of some farms in the UK this allowance could make a difference. Specialist finance could help ease costs further for farm businesses and enable more investment to improve efficiency and explore new opportunities for farm business development in the future.

If you would like to find out more about farm finance contact one of our advisors today who will be able to help.

Farm and Agricultural Finance

5th December 2018 / admin / Comments Off

With the uncertainties surrounding Brexit Farming in the UK faces an equally uncertain future depending on any deal eventually reached with the EU. Whichever way the deal goes the farming industry will almost certainly lose out on EU subsidies and this will make funding an even more important consideration in the future. So how can specialist agricultural finance help?

Agricultural finance plugs the funding gap
Many traditional sources of farm finance disappeared following the financial crisis of 2008 putting farm businesses under increased pressure to find alternatives. Agricultural finance is an attractive alternative aimed specifically at the industry.

Agricultural finance can be secured against real assets
Farming and agricultural businesses will often possess more assets than other business types making them ideal for asset finance. Assets such as land and property gives farmers an opportunity to use these assets to save or invest in their businesses.

Agricultural finance loans offer flexibility
Today farmers often need to diversify to survive. Areas such as renewable energy can provide some potentially lucrative opportunities to generate extra revenue. Agricultural finance enables farmers to invest in these types of projects and minimise risks at the same time.
If you would like to find out more about agricultural finance contact us today to find out more.

Comparing Business Finance Options

12th September 2018 / admin / Comments Off

If you are looking to grow your small business then the chances are you may need funding to help you achieve those ambitions. Navigating the various options to you, however, is not a straightforward task.

It often helps to first establish what sort of funding is right for your business. There is no one size fits all form of finance and all of them will have advantages and disadvantages depending on the nature of your business needs.

If for example your business is lacking the equipment needed to grow such as needing to invest in machinery but not having sufficient funds to do so, then asset finance is likely to be the better option.

In other cases invoice finance may be the better option if cashflow is an issue and you need faster access to working capital.

Some business owners who are not aware of the above may opt for a loan from a bank or other lender which is then paid back over a fixed term.

Less commonly a business angel may be a source of funding but this could come with the drawback of having to give away a percentage of your business in return for the money.

Whichever funding option you go for, it is important to make sure you read the small print and understand what you are agreeing to. Where possible seek expert advice before deciding on which option is best.