Tag: Richmond Asset Finance (page 1 of 5)

Tip for farm crime prevention

When winter is approaching and clocks go back an hour as British Summer Time officially ends, it is a good time for farmers to review their security.

Farms in the autumn and winter months are dark and secluded places and can prove an inviting target for thieves who will be looking to steal farm vehicles, fuel, tools and equipment.

Statistically, October and November are the two months of the year when police receive more reports of burglary than at any other time.

With their isolated countryside locations, farmhouses, outbuildings, barns, garages and sheds are all prey for would-be rural thieves, who use modern technology including drones, Google Earth and sat navs to pinpoint their entry and escape routes.

But there are a variety of measures you can take to protect your property, land and livestock and discourage potential thieves.

Fuel

Fuel thieves often target farms under the cover of darkness when they are able to drain tanks within minutes if they are not properly protected.

Thieves use anything from basic plastic tubes to pumping apparatus to siphon off hundreds of litres of red diesel from tanks and farm machinery, causing huge financial loss and inconvenience for farmers.

Tip

To prevent theft, fit fuel bowsers with wheel clamps or hitch locks. Tanks should be housed in a secure location – within a shed (in line with regulations) or in a compound, such as a locked metal cage.

Consider fitting a remote fuel monitoring gauge and alarm system. Install movement sensors, CCTV and lighting around the tank.

Store machinery inside sheds using layers of security and ensure tractors are locked up at night. If machines must be kept outside, park with fuel caps against a fence or wall.

Lighting and CCTV cameras

Isolated farm buildings down dark lanes are easy for thieves to approach and hide in the darkness. Make sure you light up areas in and around your home and buildings.

Tip

Motion-sensor security lighting and CCTV cameras are a good crime prevention and detection tool. Thieves don’t want to be seen.

Install lighting and CCTV in access locations, vulnerable areas and around the perimeter of farm buildings, yards and houses. Consider audible and monitored intruder alarm systems.

With improving technology in this area and a reduction in the cost of CCTV systems, they can be bought for fairly modest sums. Many suppliers offer subscription services with text alert systems linked to mobile phones, tablets or computers, allowing you to monitor the farm 24/7 from anywhere in the world.

Farmers are embracing new technology involving infrared beams that set off voice warning systems and relay live footage to mobile phones.

UK farmers call for EU workers to bypass Covid quarantine

An article in The Guardian newspaper has reported that there is likely to be a Christmas turkey shortage if EU workers not allowed in to work in British Poultry farms.

Poultry farmers are urging the government to lift travel restrictions to allow hundreds of specialist EU turkey pluckers to fill jobs in the UK, with a warning that there could be a shortage of birds or higher prices if the restrictions are not waived.

The proposed exemption would cover at least 1,000 seasonal workers who normally travel from Poland, Romania, Hungary, Bulgaria, the Czech Republic, Slovakia and Slovenia at the end of October to help slaughter, pluck and prepare birds destined for UK Christmas dinner tables. It says workers with typical two-month contracts will not come if they have to quarantine for two weeks upon arrival, even if they are provided with Covid-secure accommodation and “work bubbles”.

With lockdown forcing smaller festive gatherings, farmers are finding it difficult to predict consumer demand, and there are fears that larger birds will be out of favour. 

Chicks – or poults – typically ordered in February grace the Christmas dinner table as fully grown birds the following year. According to the Department for Environment, Food and Rural Affairs (Defra), between January and June 2020 there were 6.2m poults being reared on farms, compared with 6.1m in the same period in 2019.

Intensive meat processing plants have already fallen victim to outbreaks of Covid-19. A thousand staff at Bernard Matthews’ facility in Holton, Suffolk, have been tested after 72 colleagues were found to be Covid-19 positive.

Considering a bridging loan?

If you are considering applying for a bridging funding, here are some helpful tips:

  • Compare products from different providers and be certain of the total cost of the loan, rather than just the interest rate. It’s tempting to go for the lowest interest rate, but lenders may charge large exit fees, fund management fees and other hidden costs. Always ask for a breakdown of the total cost before proceeding as this makes it much easier to evaluate different providers. Richmond Asset Finance are completely transparent and will always advise you.
  • When you are looking for a provider, make sure that the lender knows your timescales and check that they can deliver on time – don’t be afraid to ask questions and don’t waste your time with a provider which won’t be able to deliver.
  • The amount of money that you can borrow as a bridging loan can vary widely between applicants and is dependent upon several factors. These include the type of property being purchased/renovated/converted; the value of the property; the loan term and interest rate offered by the lender; and your security and proposed exit strategy.
  • You will need to inform your lender about the property, as it is this that is used to secure the loan (the sale of which is your exit strategy for the loan repayment); having an exit strategy in place is crucial to avoid running into difficulty.
  • The repayment terms can often be amended to suit you, however, you are usually required to pay back the loan within a year. The application process is typically far simpler than for other types of borrowing and applications can complete very quickly, usually in five to 14 days.

Yorkshire Machinery Finance for Farms

From tractors, headers or balers, if it’s part of a working farm Richmond Asset Finance can finance it! At Richmond Asset Finance we have access to an experienced panel of lenders so we can bring you only the best finance options for your farm machinery and business.

Agriculture is very diverse and we also understand that that some farmers have seasonal income, so we can tailor seasonal loan structures for certain applicants if the situation calls for it.

We also understand that a 1998 tractor might still be in good working condition, so older farm machinery can be financed from both private sellers and dealers. Simply ask us for more details.

We can offer agriculture finance loans for the following vehicles and equipment:

  • Tractors
  • Harvesters
  • Spraying Equipment
  • Spreaders
  • Seeders
  • Offset Disc
  • Balers
  • Irrigation
  • Telehandlers

Have farm equipment or machinery that’s not on the list? Call us and we’ll be happy to help: 0113 288 3277

Your agricultural equipment finance options

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

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.

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.

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.

A broker with a farming background

Richmond Asset Finance are leading providers of finance to farmers and rural businesses in the North West, Leeds and Yorkshire. We understand and know the needs of the agricultural community and of specialists are here to help.

Unlike many commercial finance brokers and lenders offering finance to farming and rural communities Richmond Asset Finance has a genuine understanding and interest in agriculture, the countryside and rural communities.

Richmond Asset Finance help with Rural Finance including:

  • Livestock finance
    Our livestock experience covers dairy, beef, sheep and poultry. Our facility can be used repeatedly for auction purchases, B&B, heifer replacement or even new infrastructure.
  • Property renovation and repair
    We provide loans to help renovate and repair property assets, which result in capital appreciation or income generation.
  • Recovery and restructure
    We understand the need to take control and rationally plan when financial pressure is acute. Our facility can provide a window to achieve this.
  • Renewable energy
    We have considerable experience in financing AD, hydro, solar and wind power, for construction or operation.
  • Farm Diversification
    We understand the need to create new revenue streams and support all types of business diversification, from holiday lets through to farm shops or new crops.
  • Purchase of land
    We help farmers move quickly to secure land and expand their business, as acreage may come available at any time and often at short notice.

If you have an enquiry regarding rural and agricultural finance, contact us today.

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.

What is asset refinancing?

What Is Asset Refinancing?

Asset refinancing is an alternative finance arrangement that offers a simple and straightforward way to raise cash against an asset that your company already owns. Depending on the amount of funds required, you can refinance any single or multiple assets. You don’t even have to own the asset outright; refinancing arrangements can be offered on the equity tied up in company property. Refinancing a number of assets is also referred to as debt consolidation.

Richmond Asset Finance offer a number of different asset financing solutions for your business. Asset Finance is a very useful financing option because of the many benefits to your business. A business in any sector can have many financial assets and there are a number of ways to attain finance for these. In recent times this makes it the third most popular source of finance for UK Businesses.

What Are The Benefits Of Asset Refinancing?

Asset refinancing offers a simple, cost-effective and quick way to secure additional finance for ongoing business activities. You can continue to use the asset offered as security against the loan, whilst using the released funds to invest in new assets, such as a larger fleet of vehicles or new company premises. Most asset refinancing arrangements offer structured payment plans to help business owners budget effectively. Interest rates and charges are agreed upfront so you won’t incur any surprises during the lifetime of the loan. Once the loan amount has been agreed, along with associated rates and charges, you will be required to pay fixed instalments on a weekly, monthly or quarterly basis.

ASSET FINANCE IS ONE OF THE FASTEST GROWING FORMS OF FINANCE TODAY – Call us for more information.

How has the Coronavirus affected bridging finance?

Surveyors are being extremely cautious

Even where a valuation can be done, surveyors are being very cautious. Whilst they will be producing the usual figures for an open market valuation, 30 day, 90 day and 180 day sale, they may also add a revised figure to allow for the likelihood that prices will fall after the pandemic is over.  Some surveyors have even taken to writing, ‘this valuation cannot be relied upon’, on their reports. This makes the report worthless to many bridging lenders, who aren’t prepared to lend on the basis of this type of valuation.

Social distancing causing problems with witnessing legal documents

There are currently problems with getting legal documents witnessed by a solicitor as most are now working from home and not seeing clients face to face. 

Staffing shortages are affecting lenders too

Lenders have also been impacted by the requirement for staff to work from home wherever possible and have had to set up systems to allow staff to work remotely.  

Staffing numbers have been hit by those needing to self-isolate, which has affected lenders’ abilities to deal with new cases.

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