Tag: Finance Loans (page 1 of 2)

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.

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.

Small businesses boosted by bounce back loans

The government have announced its intention to offer bounce back loans to small businesses. The key terms of these loans are:

  • businesses will be able to borrow between £2,000 and £50,000 and access the cash within days.
  • loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form.

Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders.

Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic.

The scheme has been designed to ensure that small firms who need vital cash injections to keep operating can get finance in a matter of days, and comes alongside the £6 billion awarded in business grants, supporting 4 million jobs through the job retention scheme and generous tax deferrals supporting hundreds of thousands of firms.

The government, which has been consulting extensively with business representatives about the design of the new scheme, will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. No repayments will be due during the first 12 months.

The loans will be easy to apply for through a short, standardised online application. The loan should reach businesses within days- providing immediate support to those that need it as easily as possible.

Will Coronavirus affect my loan?

Loan and credit card payments to be frozen for three months in UK.

The financial regulator has announced plans to freeze loan and credit card payments for up to three months as part of emergency measures for consumers impacted by the coronavirus outbreak. They have also announced plans to help businesses that are struggling in the current climate.

The new measures which could come into force by 9th April is aimed at consumers and renters who are not benefiting from existing relief measures that have targeted homeowners – with mortgage payment holidays – or business owners.

The FCA has advised that banks and credit card providers will have to ensure that consumer credit ratings are unaffected by any of the measures.

If you are looking for a loan or bridging finance for your business in the agricultural sector. Feel free to give us a call or email us today and we will be happy to help!

Tips for improving your HGV’s fuel efficiency

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.

Benefits of wheeled excavators over truck-mounted excavators

Could upgrading from a truck-mounted excavator to a wheeled excavator make your business more efficient?

Wheeled excavators are easy and affordable to operate and transport from one area to another. They are ideal for use in a variety of fields including forestry, construction, farming, landscaping and demolition. Their mobility also makes them an attractive choice for small contractors.

The core functionality of a wheeled excavator is just the same as a truck-mounted excavator, but instead of being mounted onto a truck they move around independently on their own wheels.

Long-term cost savings – Whilst the initial outlay for a wheeled excavator tends to be a little higher than for a truck-mounted one, they offer more long-term savings as they don’t require additional vehicles or machinery to move them from one site to another. Fuel costs for transporting a wheeled excavator are usually lower than a truck-mounted excavator too.

Increased lift capacity – Wheeled excavators typically have a better lift capacity than truck-mounted excavators, particularly when using a two-piece articulated boom.

Movability – Rather than having to be transported by a large, lumbering truck, wheeled excavators can simply be driven across the site or on the road from one location to the next, usually by the same person who operates them. The small and nimble size of the wheeled excavator also makes it more agile and manoeuvrable when working on-site, allowing it to work efficiently in tight spaces.

Versatility – Wheeled excavators are available with a variety of different attachments, including the mono-boom, two-piece boom, dozer blade, rototilt, cleanout bucket, and outrigger. The huge variety of attachments available for wheeled excavators makes them extremely versatile and reduces the need to invest in multiple machines.If you require help or advice with financing an excavator, 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.

Ideas for supplementing your farm income during the festive season

Cash-in on Christmas by diversifying your farm business during the festive season.

According to NatWest, two thirds of farms have now diversified their business to generate alternative revenue streams throughout the year and boost their income.

Many farms that have successfully diversified report that their additional ventures have become a vital part of their business.

Whilst the winter months are typically much quieter for agricultural businesses, with a little creativity they can offer excellent opportunities for exploring new business ideas.

Here are a few of our favourite ideas for diversifying your farm business during the festive period.

Holiday letting

Many families and friends book holidays and weekends away to meet up and celebrate together over the Christmas holidays. Rather than letting unused land or farm buildings stand empty and unused during the winter months, why not convert them into holiday lettings. This can be particularly lucrative if your farm is in a scenic location.

Grow Christmas trees

Nothing beats the smell of a real pine Christmas tree, and according to the British Christmas Tree Growers Association over 7 million trees are sold in the UK each year. Choose a type of fir tree that will thrive in your farm’s land and soil type and start growing fir trees to sell locally each Christmas.

Run Christmas events

If you’ve got the land and buildings, why not run a series of festive events for the public in the lead up to Christmas? Popular activities and events could include turning a kids’ petting zoo into Santa’s grotto, running kid’s Christmas craft activities or adult wreath making workshops.

Turkeys and geese

Rearing free-range turkeys and geese can provide an additional source of income around Christmas time when demand for high quality meats for Christmas dinner soars.

To find out if you can apply for rural finance to help with your diversification project, get in touch with our team here at Richmond Asset Finance to discuss your plan in more detail.

CNG Fuels to provide UK’s HGVs with first carbon neutral fuel

A carbon neutral fuel will soon be available to businesses running HGVs to help them to dramatically reduce their carbon emissions.

Based in the West Midlands, CNG Fuels are the UK’s top supplier of environmentally friendly bio-CNG (compressed natural gas).

The firm recently announced that they would be launching a new carbon-neutral fuel for heavy goods vehicles in 2021.

The new fuel will use manure to produce carbon neutral biomethane. Manure gives off the powerful greenhouse gas methane, but by using this methane as fuel it prevents it from entering the atmosphere.

With HGVs accounting for 4.2% of the UK’s carbon emissions, the introduction of a carbon neutral fuel has the potential to significantly reduce the UK’s overall emissions.

Philip Fjeld, CEO of CNG Fuels said: “We want to help decarbonise freight transport and enable fleet operators to meet net zero targets now, supporting the UK’s climate targets.”

CNG Fuels already supplies many businesses operating HGVs with a renewable biomethane fuel sourced from food waste. The company has become the fuel supplier of choice for several large companies including John Lewis, Hermes, Asda and Argos.

The company reports that switching from diesel to bio-CNG can reduce greenhouse gas emissions by up to 85% and cut fuel costs by 35-45%, making it a win-win for businesses operating HGVs.

CNG Fuels are also developing a network of public HGV refuelling stations on major routes throughout the country to support electric and hydrogen powered HGVs in the future.

Need some help financing new HGVs for your business? Here at Richmond Asset Finance we provide a range of flexible vehicle finance and asset finance services.

For more information or to discuss your requirements in more detail, give our team a call on 0113 288 3277.

Fleet management tips for a more efficient fleet

Fleet managers are responsible for employing techniques and processes to help maintain a productive and efficient fleet.

An efficient commercial fleet will get the job done quickly and cost-effectively with minimal hassle. Maintaining an efficient fleet of vehicles is no simple feat though, it is a process that requires constant monitoring and continual improvement.

Use the tips in this blog to reduce running and maintenance costs and increase your fleet’s efficiency.

Service vehicles regularly

Keeping on top of vehicle servicing and maintenance will keep your fleet looking great and running efficiently whilst also helping to prevent costly accidents and breakdowns.

Recruit experienced and professional drivers

Driver behaviour and habits can have a big impact on fuel efficiency and the amount of maintenance a vehicle requires. Only recruit experienced drivers with excellent references and make it a habit to give all drivers regular training and feedback on performance.

Use telematics

Telematics collect data about driver and vehicle performance to help you to monitor driver performance for training purposes. This data should then be regularly reviewed and used to help drivers to adopt safer and more efficient driving techniques.

Invest in the right vehicles

Choosing vehicles that are best suited to your business’ specific requirements will have the biggest impact on your fleet’s efficiency.

Just some of the factors you should pay careful attention to when shopping for a new vehicle are:

  • Size – An unnecessarily large vehicle will waste fuel.
  • Type of journey they suit – Will your vehicles be travelling short or long distances? Some vehicles will be more efficient for short journeys and others for long distance journeys.  
  • Emissions – The more environmentally-friendly your vehicles are, the less tax you will be required to pay.

It’s also important to recognise when updating your fleet is the most cost-effective option.

If you require financial help or advice with updating your commercial fleet, 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.

JCB’s fully electric compact digger wins prestigious award

JCB’s fully electric compact digger has won the construction industry’s prestigious Dewar Award for ‘Outstanding Technical Achievement in the British Automotive Industry’.

The one-ton digger is thought to be the world’s first ever fully electric compact digger and represents a breakthrough for the industry in combating emissions and climate change.

The RAC’s Dewar Award is only awarded during years where the committee believe there are worthy contenders. This is JCB’s second win, as they also received the trophy in 2006 for their diesel land speed record-breaking JCB Dieselmax car powered by two JCB engines.

John Wood MBE, chairman of the Dewar Technical Committee, said: “Awarding the 2019 trophy to JCB was a unanimous decision by the Dewar Technical Committee. It represents a bold commitment to the introduction of novel technology in the off-road sector.”

JCB’s 19C-1E electric digger is now in full production and has already sold over 200 units. The digger can do a full day’s work on a single charge, produces zero emissions and is five times quieter than its diesel equivalent.

The 19C-1E is ideal for using inside cities to reduce noise and air pollution and for building projects taking place indoors or in enclosed spaces.

As the impact and consequences of climate change become more severe worldwide, the construction industry is under increasing pressure to review the effects that their equipment, machinery and vehicles are having on the environment.

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.

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. 

Would your farm business benefit from a refrigeration trailer?

Investing in a refrigeration trailer can help farmers to safely transport fresh produce further afield.

Farming is going through a difficult time, facing challenges from all angles including political and economic instability, climate change and increased competition.

Farmers are being forced to diversify their businesses as much as possible and become resourceful with finding new income streams.

One affordable piece of equipment that can provide farmers with greater flexibility and freedom to get their produce in front of a larger audience is the refrigeration trailer.

A refrigeration trailer will provide your business with the practical means with which to transport produce further afield without any negative effect on quality or freshness.

Organic, artisan and speciality produce are popular with consumers, and every year hundreds of farmer’s fairs, markets and other events are held up and down the country for farmers to sell their produce at.

A refrigeration trailer provides the means to safely transport fresh produce further, allowing farmers to attend more of these events to boost their income and improve their brand’s visibility.

Why should farmers consider investing in a refrigeration trailer?

Benefits of investing in a refrigeration trailer for your farm business include:

  • Maintains the quality and freshness of your produce for longer for excellent customer satisfaction.
  • Prevents your produce from becoming contaminated.
  • Provides your business with more opportunities to make money by offering greater flexibility.
  • Environmentally-friendly and energy efficient.
  • Helps farmers to meet the guidelines set out by Environmental Health and Trading Standards.

For help financing the purchase of vehicles or agricultural equipment, speak to our team at Richmond Asset Finance on 0113 288 3277. We provide a variety of asset financevehicle finance and agricultural finance services to help your farm business to grow and develop. 

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.

Agroecological farming methods and how to finance them

Agroecological farming methods can increase productivity and help farms to become sustainable.

The farming industry is under increasing pressure to become more sustainable to help tackle the UK’s climate crisis.

Environmental issues that farms contribute to include deforestation, wildlife loss, soil degradation and pollution.

An independent RSA report by the Food, Farming and Countryside Commission has said that the UK must completely transition to a sustainable food system and agroecological farming methods by 2030 or face further climate breakdown and the continued rise in diet-related ill-health.

Agroecology is the science of sustainable farming. Agroecological farming using farming methods that work with and enhance natural and social systems. 

These natural methods can produce healthier, more nutritious food, increase farm productivity, and make agriculture more sustainable and environmentally friendly.

Examples of agroecological farming methods include:

Organic farming– An environmentally friendly method of farming that uses ecological pest control and biological fertilisers instead of chemical pesticides and synthetic fertilisers.

Agroforestry – The planting of trees in and around farmland to look after the environment and improve a farm’s productivity.

Pasture-fed livestock– Livestock that roams freely and eats a primarily foraged diet rather than being fed foods like cereal and soya.

Conservation agriculture– Using farming practices such as crop rotation, cropping system diversity, soil covers, and minimum soil disturbance to manage and protect the soil.

Biological pest control–This agroecological farming practice uses natural enemies including predators and pathogenic nematodes to control pests.

Financing the transition to agroecological farming methods

Within the report, the commission warned that farmers will struggle to completely transition without “stable” policy, regulation, advice and access to finance and innovation.

Here at Richmond Asset Finance we understand the unique financial challenges that farmers face today. We help farmers grow their business by providing flexible agricultural finance and effective farm finance strategies for various sized projects.

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

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