Tag: Agricultural Industries (page 1 of 3)

The funds your farm needs to grow with Richmond Asset Finance

Richmond Asset Finance are a consultant lender in Manchester, here to help your business survive, thrive and grow.

We offer a range of flexible funding solutions to allow you to upgrade or invest in new equipment, or release cash from your company’s existing assets. The decisions we make are not based on whether we have been able to tick a series of boxes on a form, or whether your situation neatly fits into a category that suits us. What your business needs will always come first.

How can asset finance Manchester help your business?

Whether you’re looking to fund new vehicles for your farm, equipment or machinery for your farm, enable expansion plans, consolidate debts or provide an injection of working capital; Richmond Asset Finance can help:

  • Hire Purchase
  • Leasing
  • Refinancing

Asset Types

Asset-based lending Manchester (ABL) encompasses business funding that releases capital using the value of an asset as security. This asset may be equipment or vehicles, and the capital raised on it can be used to buy more equipment, update or expand premises, or facilitate a management buy-in or buy-out.

Need a new tractor?

Rural Finance from Richmond Asset Finance can help your purchase what you need.

Richmond Asset Finance are one of the north west’s leading rural finance and agricultural brokers.

We are one of the biggest agricultural, commercial and industrial finance brokerage company’s operating throughout England, specifically the North West.

What makes Rural Finance different?

Here at Richmond Asset Finance we like to visit our customers, so we have a clear understanding of their requirements. Once we have a clear understanding of your needs and financial situation, we are in a better position to provide you with products that suit your circumstances. Richmond Asset Finance has brokers based around the North West, ensuring we always have someone to help you. Take advantage of our experience and give us a call on 0113 288 3277.

What are the benefits of Agricultural Finance?

What are the benefits of agricultural finance?

As a farmer, it can be difficult  to purchase the equipment and machinery you need. The costs can be huge and can eat into capital that is much needed for other necessities. You may not be aware, but there is a solution to this in the form of agricultural finance. Outlined below is the importance of agricultural finance.

Farmers need to purchase new inputs, such as seeds, fertilizers, pesticides, irrigation water and more. Agricultural finance can help to make these purchases easier for farmers. If the seed of a high yielding crop is readily available for farmers, then the productivity of the farm is improved.

Smaller farms may not have the need for agricultural finance for items such as seeds or pesticides but larger farms may need help with bulk purchases of these items. Seeds, fertilizers and irrigation water can prove to be a highly expensive continuing need which agricultural finance can help to meet.

You can cover land costs

If you are looking to buy new farmland as a budding farmer or simply increase the amount of land you already have, then agricultural finance can help cover the land costs you may incur. The land you need will depend on the type of farming you are planning on doing.

In order to apply for finance for land, you will need to calculate how much land you need and what kind of land you are looking for. Once you have your loan approved, you will be able to move forward with your endeavour. Buying land with your own money may not be feasible as a start-up farm, which is why finance is a good option.

You are better equipped for a crisis

Farming can be a difficult business. You are never able to predict what will happen to your crops or livestock, and are at the mercy of customers and competitors. Some farming is seasonal, which means you may only earn money during certain times of the year.

An agricultural loan can be used to protect yourself during the various ups and downs of your business. You can also use it for operational costs as well as costs that occur from damages. It is better to be prepared for every eventuality, which is why having agricultural finance is important to all working farms.

Finance Options

Typical Finance Types, uses and descriptions

1. Farm Finance, Rural Finance

An all embracing term we use to describe all types of farm and agricultural finance we offer in 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.

2. Agricultural Loan, Loan for Agriculture, Loans for Agriculture

More commonly described as an Agricultural Mortgage, Mortgage for Agriculture, Agricultural Re-mortgage or Re-mortgage for Agriculture being a loan secured by a first charge over property in UK, England. In some cases a loan may be secured by way of a second charge over this type of property.

3. Bridging Loan, Bridging Finance

This is a short-term arrangement whereby a loan is secured either by way of a first charge or second charge on property in England, Wales, Scotland or Northern Ireland. Usually, but not always, interest is rolled up or added to the account so that all the money is repaid by the end of the term, meaning that no monthly payments are made.

Rural Finance available from Richmond Asset Finance

Painless finance made possible with your own account manager

We understand that your time is valuable, so your dedicated account manager will work their hardest to undertake as much of the process as possible.

Richmond Asset Finance are a major funder of Dairy and Beef breeding cattle in the North West and surrounding areas. If you are replacing or expanding your dairy or beef herd we have funding available through Hire purchase and loans up to 48 months with no additional security required other than the livestock being financed.

Richmond Asset Finance are able to fund your cattle through:

  • Livestock markets
  • Farm to farm
  • Livestock brokers
  • Farm sales

We can provide effective farm finance strategies for various sized projects. With a general lack of lending in the marketplace, we offer a solution for farmers to source their funding needs.

Agricultural assets we can help you finance

Richmond Asset Finance can help you with agricultural finance for the following:

  • Tractors & self propelled
  • ATV & RTV
  • Grassland machinery
  • Cultivation machinery
  • Drilling & planting machinery
  • Harvest machinery
  • Livestock handling systems
  • Robotic milking systems
  • Grading lines
  • Farm security
  • Food processing units
  • Bottling plants
  • Livestock feed systems
  • Irrigation equipment

Richmond Asset Finance can finance any new or used piece of agricultural machinery and equipment with no age limitation, supplied by either a specialist agricultural dealer or bought privately through a fellow farmer or auction. Manufacturers subsidised finance is periodically available through Richmond Asset Finance based in the North West, Leeds and Yorkshire.

We can finance any make and model of agricultural plant and machinery irrespective of age, please contact us with your requirements on 0113 288 3277

‘Bounce back’ plan for agriculture, food and drink industry launched

The Government have announced that they will be supporting the agricultural, food and drink industry in the coming months following the COVID Pandemic.

The agriculture, food and drink industry is the UK’s largest manufacturing industry and plays a vital role in the UK’s food supply chain, which contributed £121 billion to the UK economy in 2018 – supporting around 4 million jobs. In 2019, UK food, feed and drink exports were worth £23.7bn – up 4.9% from 2018.

The measures introduced today will support producers, manufacturers and agri-tech companies across the food supply chain, from farm to fork, and has been developed with insight from the devolved administrations, trade associations, businesses and DIT’s regional and international networks.

The UK agriculture, food and drink industry has been significantly impacted by Coronavirus. Although it has done well to adapt, exports have been hit and the Government is committed to supporting this most important of industries get back into international markets and start growing market share once again.

For more information regarding the Governments plan, visit the GOV website HERE.

Richmond Asset Finance Guide to Farm and Agriculture Finance

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

Farm finance is on the rise again and is becoming an attractive sector as farmers need loans that can be secured on real assets as farmers now need to find new sources of capital to sustain, grow and improve their businesses. Again we can help with asset finance and for equipment and various land and property finance is available too. Click here to view our services and solutions here.

Here are a few reasons why you may require Richmond Asset Finance Agricultural Finance:

  • Diversification, farmers need capital to diversify and build new businesses. Diversifying your enterprise can increase revenue and reduce risk. We understand this and the benefits it brings in the current market, as our team has direct experience of building new businesses.
  • Purchasing new farmland when additional acreage or a unique property opportunity may come available and often at short notice. Additional acreage or a unique property opportunity may come available at any time and often at short notice. Richmond Asset can move quickly to help you secure this and expand your business.
  • Property finance allows farmers to develop, renovate or repair property for capital appreciation and income generation. Are you making the most from your property? A loan from us could help you develop, renovate or repair property for capital appreciation and income generation.
  • Renewable energy projects can be a great source of additional income and add real value to under-utilised land on a farm, or even turn waste products into revenue. Renewable energy projects can be a great source of additional income and add real value to under-utilised land on your farm, or even turn waste products into revenue.
  • Livestock Finance is utilised by farmers to expand their livestock holdings. Once you decide that you’d like to expand your livestock holdings, our facility can provide a flexible option that can be used repeatedly, allowing you to make judicious purchases or sales, depending on the market.

Richmond Asset Finance adding value to your farm equipment

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.

4 signs it’s time to replace your tractor

Is your tractor holding your farm business back? Here are four signs it’s time to replace your tractor.

Whilst a new tractor may be a big expense, using outdated machinery can seriously impact your farm business’ profitability, so it’s important to know the signs that may indicate that it’s the right time to bite the bullet and invest in a new tractor. 

Your business is growing or changing

As your business grows and evolves so will its requirements, and you may find that your existing tractor’s capabilities no longer cut it. If you now have more crops than you used to, you may require a tractor with a higher capacity to get the job done more efficiently and save time and money. Equally, if you have diversified into farming a new crop, you may find that you require a new tractor with different capabilities.

You’ve used it for 12,000 hours

Check how many hours you’ve racked up on your trusty tractor. It is generally agreed that standard-sized tractors have around 12,000 hours of use in them, whilst compact tractors have considerably less. If your tractor has done over 12,000 hours, it could be reaching the end of its lifespan.

It keeps needing repairs

If your tractor keeps breaking down or needing maintenance, this could also be a sign that it has reached the end of its lifespan. Rather than shelling out regularly to have it repaired, it may be more cost-effective to simply invest in a new machine.

It uses old technology

If your tractor uses outdated technology, it could be holding your business back from reaching its full potential. New agritech is being developed at a rapid pace and tractors are constantly being made smarter and more efficient. Investing in a tractor that uses modern technology could help to boost your business’ productivity and profitability. 

If you require help or advice with financing a new tractor, speak to our team here at Richmond Asset Finance. We provide a range of flexible agricultural 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.

New Cat 326 excavator can boost efficiency by up to 45%

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. 

Signs that it’s time to replace or upgrade your overhead crane

Recognising when it’s time to upgrade your overhead crane can help your business to be more productive, save money, and meet safety standards.

Whilst investing in a new overhead crane may seem like a big expense, continuing to use an excessively worn or outdated model may be costing your business more than you realise.

Here are three common signs that it’s time to replace or upgrade your old overhead crane.

Parts are difficult to get hold of

If you’ve had your crane for some time, you may find that it becomes difficult and costly to source parts and components to repair it. This can happen for several reasons, including the OE manufacturer closing and the parts becoming obsolete because the model is no longer in production. This means it can become inconveniently long-winded, costly and complicated to source replacement parts when they become broken or worn. In this instance, it is often more cost-effective and efficient to simply upgrade your crane to a more modern model.

It frequently requires repairs

If your crane is constantly breaking down or in need of maintenance, regularly paying for new parts, labour and expensive production downtime will soon start adding up. When you take all the expenses, inconvenience and hassle into account, investing in a new crane may be the most sensible and cost-effective option.

Your requirements have changed

If your production requirements change, you may find that your existing crane can no longer keep up with, or is not capable of, your new demands. Whether that means lifting heavier loads, working faster, or with more precision, investing in a modern crane can help you to meet more advanced requirements and work more efficiently.

If you require help or advice with financing a new overhead crane, 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. 

Should you invest in the new Claas Lexion combine harvester?

Farmers investing in the new Lexion combine can gain 10% more capacity whilst also saving time and money.

24 years on from the launch of the original game-changing Claas Lexion combine harvester, Claas have launched their new generation of Lexion Hybrid combine harvesters.

When the original Lexion was introduced it changed the way in which crops were harvested and now accounts for around 75% of all hybrid and rotary combines sold in the UK.

The new, more powerful Lexion 8000-7000 series combines can help farm businesses to streamline harvesting to save time and money.

Blake McOllough, Product Manager of Claas America said: “The redesign brings together significant engineering advancements from Claas that deliver on the superior productivity that today’s ag business demands, offering the best return on investment and allowing the operator to get more done in less time.”

Key benefits of the new hybrid Claas Lexion combine harvester

Improved fuel efficiency – The new Lexion hybrid combines are fitted with a Dynamic Power Intelligent engine management system which automatically adjusts engine power output dependent on load to provide excellent fuel efficiency.

Improved belt life – The Lexion 8000-7000 models feature an improved clutch system to engage and tension the belts, resulting in improved belt life.

Increased harvesting capacity – The new APS threshing system features a threshing drum which is 26% larger than that of the current Lexion 780 and features ten rather than eight rasp bars. The new model threshes out 70% of grain and leaves just 30% for the secondary separation system. This allows the new Lexion models to deliver 10% more capacity than previous models.

Higher grain tank capacity – To cope with the higher output, the new Lexion also features a huge 18,000l grain tank.

Reduced maintenance – The new model’s dynamic cooling and central lubrication system mean maintenance time is cut by more than half.

More precise data – The new Lexion combine harvesters uses a pressure cell to collect data for more precise record keeping and yield mapping.

Soundproofing – Operators can enjoy a larger, soundproofed cab for a more comfortable ride.

If you require help or advice with financing a new combine harvester, speak to our team here at Richmond Asset Finance. We provide a range of flexible agricultural 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.

More property investors using bridging loans

Recent statistics show that the demand for bridging loans is continuing to grow, particularly in the property investment market.

Whilst property investors may be shunning commercial properties amidst Brexit uncertainty, the market for residential property investment in the UK is still booming.

Recent figures show that investment in UK residential property rose by a huge 150% in 2018.

Tighter mortgage lending criteria has created a higher demand for rental properties. The high demand has caused a shortage of rental properties, allowing landlords to charge higher rent. These factors combined with a slight decrease in property value have made residential buy-to-let properties a valuable investment.

As more property investors seek opportunities to buy properties in the residential sector, the demand for bridging loans has also increased.

In fact, the latest ‘Bridging Trends’ report found that for the second consecutive quarter the commonest use of bridging finance was to buy investment property.

According to the report, 25% of bridging loans were taken out to fund the purchase of investment property, that’s up from 22% in the first quarter. 

Bridging finance is the ideal solution for property investors looking to grow their portfolio as it allows them to move on a purchase quickly whilst the price is low. Without access to a bridging loan it is easy to miss opportunities whilst trying to raise funds.

Here at Richmond Asset Finance we provide flexible commercial bridging loanssuitable for property investment, buy-to-let, and land purchase and development.

For more information about our commercial bridging loans, or to discuss your requirements in more detail, give our team of experts a call on 0113 288 3277 and we’ll be happy to help.

Four times a bridging loan could help your business grow

Bridging loans offer a quick and simple way of raising finance to take advantage of time critical business opportunities.

Whether you’re a new start-up or a well-established business, finding a large sum of money for a new investment at very short notice can be difficult and risky.

However, regularly allowing opportunities to pass you by can be just as damaging, making it difficult to keep up with competitors and preventing growth. 

This is where bridging loans can help.

A bridging loan is a short-term funding solution that bridges a gap between a debt becoming due and credit becoming available.

Here are four times when a bridging loan could help your business to grow.

New equipment or machinery– A bridging loan can be used to purchase new equipment or machinery to increase the efficiency, output, or cost-effectiveness of your business’ production process.

Investment opportunities– Profitable investment opportunities don’t come around every day, but when they do you want to be able to snap them up. From new business partnerships to new stock, investing in fresh opportunities is what keeps your business current, competitive and profitable. 

Buying property or land– Bridging loans are most commonly used for purchasing property or land and developing it. When buying property, time is of the essence, and applying for a mortgage can be a lengthy process. Bridging loans are ideal for raising funds very quickly to bridge the gap until the mortgage comes in.

Start-up costs – If you’ve identified an opportunity for a new business venture then you’ll want to act quickly to capitalise. A bridging loan can provide you with the funds you need to get your new business off the ground or market your idea.

For more information about commercial bridging loansor to discuss applying for one, get in touch with our team here at Richmond Asset Finance by giving us a call on 0113 288 3277.

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