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 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.
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.
- 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.
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.
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
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:
- Combine Harvesters
- Drilling & Planting Machinery
- Cultivation Machinery
- Grass Land Machinery