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Hire purchase machinery and vehicle finance

2nd November 2021 / admin / Comments Off

Hire purchase spreads the cost of buying equipment.

Keeping your farm business running efficiently often means investing in additional vehicles, equipment or machinery.

Flexible packages help you get on with business

Hire Purchase lets you spread the cost of a capital asset over a fixed term, enabling you to use some of the revenue the item generates to fund its purchase.

This helps boost your cash flow as you’ll not have to pay outright for major investments which may otherwise slow down your growth, diversification or consolidation plans.

Buy new and used vehicles and farm equipment from £15,000 – including tractors, combines, balers, sprayers, telehandlers, feed mixer wagons, grain drying equipment, beet harvesters, pea viners, egg graders, slurry spreaders, trailers, automated parlours, commercial vehicles and more.
Hire Purchase can help with the cost of biomass boilers, the financing of balloon payments and also VAT deferments.
Pay the initial deposit that suits your needs and choose a repayment period of between one and five years.
Repay monthly or seasonally to suit your cash flow with competitive interest rates.

UK-first sustainable farming school launched

26th October 2021 / admin / Comments Off

A UK-first school seeking to help farmers adopt regenerative methods of agriculture has launched at Harper Adams University.

The School of Sustainable Food and Farming is the first of its type in the UK, with courses covering livestock, soil health and biodiversity.

In the UK, agricultural production is currently responsible for 10 percent of all greenhouse gas emissions.

Harper Adams University says the school will play a part in realising the government’s new ‘green’ agriculture policy, unveiled in November last year.

Based in Newport, Shropshire, courses will be designed using the work on sustainable farming and food production by the university.

They will cover topics including carbon sequestration, the potential of green energy production on farms – including anaerobic digestion plants, and understanding the value of carbon. In addition, on-farm learning with tutors will take place.

The courses will be run by the UK’s leading experts in agronomy, veterinary practice and nutrition.

They will include undergraduate courses to train new sustainable farmers, short courses and apprenticeships to upskill the current farming workforce as well research posts.

The school has been launched in collaboration with supermarket Morrisons, foodservice outlet McDonald’s UK, and the National Farmers Union.

Farmers Protest outside Tory Conference

12th October 2021 / admin / Comments Off

Farmers protested outside the Tory Party Conference amid the current labour crisis.

Pig producers have staged a protest outside the Conservative Party Conference after Boris Johnson played down the prospect of a mass cull of pigs due to a shortage of plant staff.

A group of farmers gathered outside the Manchester conference on Monday morning (4th October) to raise awareness of the industry’s ongoing struggles with finding an available workforce and the possibility of having to cull thousands of healthy pigs.

Producers are now seeing a backlog of well over 120,000 pigs on farms, with many quickly running out of space and many more at or close to the limit.

The labour crisis due to COVID-19 and Brexit at processing plants has resulted in a slowing down of the throughput of British pigs through plants, which is adding to the already severe backlog of pigs on farms.

The prime minister has blamed the pig industry for the staff shortages in abattoirs for not paying enough or creating attractive working conditions.

The Prime Minister has been accused of disregarding the possible pig cull

5th October 2021 / admin / Comments Off

Farming groups have been left ‘shocked and dismayed’ after Boris Johnson played down the prospect of a mass cull of pigs due to a shortage of plant staff.

The prime minister made the comments on Sunday’s Andrew Marr show when questioned on the pig sector’s ongoing problems, and the likely move toward a mass cull of healthy animals.

Producers are seeing a backlog of well over 120,000 pigs on farms, with many quickly running out of space and many more at or close to the limit. The sis due to the labour shortage at processing plants and has slowed down the throughput of pigs through plants causing a severe backlog of pigs on many farms across the UK.

On 4th October, pig producers stages a protest outside the Conservative Party Conference to raise awareness of the sectors struggles at this time. The prime minister responded with a statement suggesting the Home Office were looking into solutions for the current labour shortage.

UK retailers and supermarket chains have also been asked to help the beleaguered sector, by purchasing more British pork.

Richmond Asset Finance Agricultural Finance

5th October 2021 / admin / Comments Off

Richmond Asset Finance is a specialist business lender to the agricultural sector that offers traditional, responsible lending to farmers throughout England, Scotland and Wales.

Our team knows rural property and rural businesses, the many challenges they face, but also their appeal. We visit all our potential borrowers before making a loan and have a very responsive underwriting process that works quickly and reliably.

Our team at Richmond Asset Finance understand how to craft a business loan against agricultural property where a ‘one size fits all’ doesn’t work and pride ourselves on working with the leading experts in agricultural valuation, security and restructuring to ensure swift informed and fair decisions.

As a principle lender too many businesses and agricultural businesses across the UK we always act with integrity and delivering on time, every time. We have a pragmatic and flexible approach, with borrowers able to talk directly to the lending decision makers.

Our loans have helped farmers diversify, acquire more land, build renewable energy projects, helped them restructure, buy more livestock, help families with generational transfer and provide tenant farmers capital to purchase their farm.

5,500 poultry workers to get temporary visas

8th September 2021 / admin / Comments Off

As well as poultry workers, the government confirmed over the weekend that 5,000 fuel tanker and food lorry drivers will be eligible to work in the UK for three months.

The growing labour crisis has resulted in empty shelves in supermarkets and, in some cases, food left on farms unable to be picked up or processed.

The visas have been requested on a COVID recovery basis to alleviate labour shortages.

NFU vice president Tom Bradshaw said the union welcomed the government’s new announcement, but said more solution would be needed for ‘wider labour needs’.

He said: “The NFU has worked with the wider industry to help evidence the needs of the sector and we look forward to working with government on applying the scheme for poultry and, in particular, access for smaller producers.

“We will also continue to work with government to find solutions for the wider labour needs, including trained and able butchers for pork production to deal with the increasingly serious build-up of pigs on farm and the risk of welfare issues.”

The organisations behind this week’s letter called for measures including a 12-month Covid Recovery Visa which they say would enable the supply chain to recruit critical roles as a short-term response to labour shortages.

Government commitment is also needed to a ‘revised and expanded’ Seasonal Worker Scheme for UK horticulture, to ensure it is flexible and large enough to meet workforce needs.

Finally, the groups urge the Migration Advisory Committee (MAC) to review the impact of ending free movement on the food and farming sector, in the same way it is doing for adult social care.

World’s largest vertical farm starts construction in UK

5th September 2021 / admin / Comments Off

A new multi-million pound vertical farm being built in Gloucestershire will offer 148,000sq ft of growing space, making it the ‘world’s largest’ facility of its type.

The farm will be approximately the same size as almost 70 tennis courts and able to supply 1,000 tonnes of fresh produce to UK supermarkets.

Jones Food Company (JFC), owner of Europe’s largest vertical farm near Scunthorpe, has broken ground on the new project.

The Lyndey-based facility, dubbed JFC2, will open in early 2022, the company confirmed.

Mr Lloyd-Jones believes that with the current labour shortage and bare supermarket shelves, vertical farming is a vital part of the UK’s farming future.

His company has an ambitious plan to be able to supply 70% of the UK’s fresh produce within the next ten years.

Vertical farming is the process of growing plants indoors under controlled conditions in a series of stacked layers.

Rather than using sunlight, like in a glasshouse, many of these urban farms are reliant on LED light which is adjusted dependent on the growth stage and crop type.

Techniques such as soil free growing are typically used in vertical farms, whilst chemical treatments are rarely applied because of the tightly controlled conditions, with lighting, irrigation, fertigation, and climate all being precisely adjusted.

“It allows us to grow entirely without pesticides and using 95% less water. And it means we can significantly reduce the air and road miles of the foods we grow.”

But vertical farming doesn’t just make environmental sense, it makes economic sense too, Mr Lloyd-Jones believes.

Production of CO2 to restart amid fears of food shortage in UK

4th August 2021 / admin / Comments Off

The UK government has agreed a deal with US company, CF Industries, to restart CO2 production after high gas prices forced it to stop production, threatening food shortages.

In exchange for CF Fertilisers allowing the company to immediately restart operations the government will provide financial support towards the firm’s operating costs for 3 weeks ‘whilst the CO2 market adapts to global gas prices’.

Both the farming and food industries have warned that the public could begin to see gaps on supermarket shelves within days if there is no intervention in its supply. This is because gas is a vital element to the existence and maintenance of these industries.

For example, the livestock sector uses the gas in the slaughter process, packaging and chilling stages of meat production. The British Poultry Council (BPC) has warned that if there was to be any interruption in any of these stages then the supply of meat would be brought to a halt.

However, Business Secretary Kwasi Kwarteng has somewhat diminished fears surrounding imminent shortages. He suggested that this agreement will ensure that many of the critical industries that rely on a stable supply of CO2 have the resources they require to avoid any form of disruption.

That said, the British Meat Processors Association has said that this crisis has only served to highlight that the British food supply chain is ‘at the mercy of a small number of major fertiliser producers’.

Perhaps then there is a growing demand for greater diversity in the market in order to avoid such crisis in the future.

Fast Farm Loans

27th July 2021 / admin / Comments Off

Fast farm Loans available from Richmond Asset Finance.

We often speak to farms needing to replace equipment, develop property, or settle bills to continue their business activities. The challenge we often hear is how they can access the necessary finance. The banks usually ask for a multitude of information and many lenders do not appreciate the cyclical nature of farming businesses. This is where Richmond Asset Finance can help.

If you need access to immediate finance for your farm this is a fast and competitive option.

Why choose a fast farm loan from Richmond Asset Finance?

You’ve just paid your staff, you are still waiting for that major client to settle their account and a large bill has just arrived on your desk.

When a number of circumstances conspire at any one given time this can cause even the most stable of farms to encounter cashflow problems, not to mention worry for you as the business owner.

Unfortunately this is not uncommon, but help is at hand.

If your farm needs emergency finance our fast farm loans can help you pay unexpected bills, bridge a cashflow gap, and get your farm back on track.

Speak to Richmond Asset Finance today and we will be able to help you with your farm finance requirements.

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.

Commercial Funding from Richmond Asset Finance

9th June 2021 / admin / Comments Off

Commercial Funding is a type of finance solution which is catered towards commercial enterprises rather than individuals. It can also be referred to as ‘Business Finance’ or ‘Business Funding’.

If a business is looking to expand without heavily impacting on cash flow, commercial funding could be a viable option. At Richmond Asset Finance, we have built long-term relationships with several providers. As a result, we can offer tailored financial solutions that suit companies’ specific requirements.

Through experience, our expert team can simplify the funding process. We can provide a bespoke service for each business because we work closely with companies to understand their needs and circumstances. We put our clients’ needs first to provide the best advice and the right type of funding.

Types Of Commercial Funding

There are several different types of commercial funding, each one has its own specifications, so it’s important for companies to choose one which works best for them. Commercial loans are more suited to large organisations.

The different types of commercial funding vary significantly. They are mainly split by whether or not they require security or collateral.

Commercial Loans

When it comes to commercial funding, a commercial loan is usually the simplest solution for companies. It works like most loans with a company making regular repayments of an agreed amount for a specified period of time. Interest rates and additional fees will also be agreed on.

Commercial loans are broken down into Secure and Insecure:

Secured Loans

Usually cheaper as the lender is taking a lower risk
Use company assets as security

Unsecured Loans

Generally more expensive
Ideal for companies which don’t have assets to use as security.

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 Finance Near Me

10th May 2021 / admin / Comments Off

Richmond Asset Finance are one of the most reputable sources of agricultural and farm finance in the North West. We are experts in farm finance and all agricultural funding.

Richmond Asset Finance is an all embracing term we use to describe 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, nurseries, garden centres, smallholdings, estates, fisheries, farm shops and generally all types of rural type situations.

What is the purpose of 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 completely understand farm finance, rural & agricultural funding. You can be assured of a personal and expert service at all times. Every case is handled personally by one of the partners. One of our main aims is to reassure you that you never become a just a ‘number’. It also helps that we have a lengthy and healthy relationships with our lenders.

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.

ASSET REFINANCE SOLUTIONS

10th April 2021 / admin / Comments Off

Asset Refinancing Solutions from Richmond Asset Finance.

Asset Refinancing is based on using a company’s existing assets as a low-cost way to quickly release cash for the business to support growth or cashflow.

Most importantly, companies from all sizes can benefit from this type of financing solution, whether they are looking to expand, set up new projects or just need to raise funds quickly.

What is Asset Refinancing?

As one of the simplest financial solutions, asset refinancing is an arrangement which uses a company’s existing assets to raise cash. Also, it is a secured form of lending that uses an existing company asset as security against the loan.

The asset does not need to be owned outright as refinancing solutions can also be used on equity tied up in the company property. So, depending on a company’s requirements, they can refinance single or multiple assets. Refinancing multiple assets is also known as debt consolidation.

Additionally, funding providers can generally offer refinancing arrangements from £5,000 to £5million, depending on the value of the asset(s). Furthermore, terms are typically available from 12 months to five years, though this is dependent on the individual asset.

What sorts of asset finance are there?

9th April 2021 / admin / Comments Off

There are several types of asset finance and a few minor variations. Each has its uses, benefits and disadvantages but all broadly follow the principles of asset finance given above. A general overview of what’s available follows:

Hire purchase

This is a very similar model to hire purchase for individuals. The hire purchase provider retains ownership of the asset to be leased over the term of the agreement and leases it to the business for agreed regular fixed payments. Businesses may make a larger initial payment followed by smaller payments on an agreed schedule. At the end of the agreed period, the business can choose to buy ownership of the item outright with a further payment.

Finance lease (or capital lease)

This differs from some other asset finance in that the business is only ever renting the assets concerned. Again, payment is made with regular payments to an agreed schedule. This normally lasts until the finance provider has recouped the purchase value of the asset. In some instances, the finance company may allow the business to share in a percentage of the sale value of an item once it has been sold. The business does not have the option to purchase the asset outright.

Tax-wise, it may be possible for a business to offset the rental payments against their profits. However, this is not possible with long funding leases. The finance company retains the right to any capital allowances, but the business can reclaim VAT.

Asset refinancing

There are basically two forms of asset refinancing: the first is simply using a company’s assets (physical or otherwise) as security against a loan.

The second – more properly called asset-based lending – is where a business sells an asset to asset finance provider for an agreed lump sum. The business then leases back the asset sold from the finance provider – thus repaying the lump sum paid.

Asset refinancing differs from a simple secured loan in that a business can use physical assets they may only partially own as collateral, but only up to the level of equity they have in that item.

Contract hire

This form of asset financing relates to vehicles only. A business wishing to expand its fleet will approach a contract hire provider who will source the vehicle(s) required. The business pays a regular amount over the agreed leasing period.

Maintenance and servicing costs remain the responsibility of the provider, rather than the business. For larger companies with multiple vehicles fleet management services may also be included in the base contract hire costs.

Contract hire (also sometimes referred to as vehicle asset finance) carries the benefit of relieving a business of the time and budget-consuming tasks that accompany normal vehicle ownership. The provider is responsible for finding and buying a new vehicle, as well as all maintenance and servicing costs. At the end of the leasing period, the provider also assumes responsibility for the disposal of the vehicle.