Category: Commercial Finance Broker

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.

Farm Finance & Farmland Loans

7th September 2020 / admin / Comments Off

Commercial Bridging Loans for Farms from Richmond Asset Finance

As a lender that specialises in providing fast, non-status farm finance and farmland loans, including Commercial Bridging Loans, Richmond Asset Finance can help you develop your agricultural business.

Agricultural financing is available for the purchase of land, while dedicated farm development facilities are available to provide loans and finance for barn conversions, new build developments and refurbishment projects. Richmond Asset Finance can help with your Commercial Bridging Loans.

Short-term farm and land loans are available to farmers and landowners for any business purpose, provided that you have suitable property (buildings or land) to offer as security (1st or 2nd charge) and a credible plan to repay the loan.

Bridging Finance during the Covid19 Pandemic

5th June 2020 / admin / Comments Off

How has the Coronavirus affected bridging finance?

Some bridging lenders have stopped lending

A number of bridging lenders have stopped providing bridging loans during the current Coronavirus pandemic. Many lenders have announced that they are temporarily stopping all new lending or restricting the size and types of loan that they offer.

Some current lending applications have been cancelled

Some lenders have cancelled on-going applications and have even pulled current offers where contracts have not been exchanged. In some cases lenders are requiring customers to start the application process again from scratch.

Those still lending have reduced loan to values and loan sizes

Those lenders who are still offering bridging finance are being very cautious and have taken actions such as reducing their maximum loan sizes. Maximum gross loan to values (LTVs) are down from 80% to around 60 to 65%.

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.

Tips for improving your HGV’s fuel efficiency

17th February 2020 / admin / Comments Off

Whilst you can’t control the price of fuel, you can control the amount you use with these driving tips for better fuel efficiency.

HGVs can guzzle up fuel, which isn’t only bad for your business’ budget, but also for the environment.

HGV drivers can learn to improve their vehicle’s fuel efficiency by making a few simple changes to their driving habits, here’s how.

Use cruise control

Most modern HGVs are equipped with a cruise control function for keeping the vehicle running at a constant speed. Reducing unnecessary fluctuations using cruise control can help you to save a significant amount of fuel.

Plan the route

Careful route planning can help you to get from a to b quickly and efficiently, preventing you from using unnecessary fuel whilst getting lost and taking detours. It can also help you to avoid routes featuring sharp inclines which require more fuel to navigate.

Reduce speed

The speed that you drive at can have a significant impact on the amount of fuel that your HGV uses. Studies have shown that reducing your speed to an average of 50mph on the motorway can help to reduce fuel consumption by up to 20%!

Don’t idle

Whilst it may be tempting, particularly on very cold days, to keep your engine idling and your heater and radio switched on when you are stationery, this is one of the worst ways to waste fuel!

Avoid braking sharply

Hitting the brakes sharply and rapidly accelerating can both eat up fuel far faster than driving at consistent, steady speeds. Simply paying closer attention to what is happening ahead of you on the road and anticipating when to brake sooner can make for a smoother ride, use less fuel, and reduce the risk of an accident.

Sometimes, if you’re driving a very old HGV, then the most effective way of increasing its fuel efficiency is to upgrade to a newer model.

If you require financial help or advice with upgrading your HGV, 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.

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.

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.

3 Reasons Why You Should Use A Commercial Finance Broker

12th November 2018 / admin / Comments Off

Business owners can often be afraid to look at alternative routes for their finance needs but there is a lot to be gained from using a commercial finance broker to get the best finance deals.

Here are 3 reasons why your business should consider using a finance broker

You can get access to better rates
You shop around for everything else so why not shop around for the best rates on finance? A commercial broker can often obtain special rates from lenders because they will generally have good long term relationships with them. They can also help with paperwork to ensure you give yourself the best chance of securing the finance you need.

They are experts
Commercial finance brokers that have the relevant qualifications and accreditations are experts in their field. Using experts in anything will save you time and sourcing the best finance products is no different.

Save Yourself Time
We are all growing accustomed to just going online and searching for deals for anything from shopping to houses but finance is different. The various products available could never fit on one price comparison website so it could take a huge amount of time for you to try to beat the rate your commercial finance broker can provide.