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Agricultural Equipment Financing

Agricultural Equipment Financing

Most farming businesses will require a lot of machinery to run their business, which can obviously add up and be quite expensive. Farm machinery is needed to:

  • Tend to crops
  • Till the soil
  • Irrigate the land
  • Feed the livestock
  • Sow seeds for new plants
  • Harvest the produce

Therefore, farms will have a lot of assets at any one time so finding an effective source of funding is important. That is why Asset Funder offers agricultural equipment financing to help farmers manage their cash flow by spreading the cost over the life of the asset.

Working in farming can often be seen as a labour of love, but that doesn’t mean that you shouldn’t benefit from the most up-to-date and technologically advanced equipment. We understand that having up to date reliable equipment provides farmers with the security of knowing that their equipment will be available at the critical time it is needed such as for harvesting.

Technology and mechanics have come on leaps and bounds since the early days of farming and with it has come the cost! One of the biggest challenges farmers face today is obtaining the right finance to ensure they can keep their farms working effectively all year round. Without access to finance acquiring farm machinery such as Combine Harvesters or Milking parlours would be out of reach of many farmers.

This is where enlisting the help of a company like Asset Funder makes sense. The right funding will ensure you can spread the cost of the assets over their useful working life. This will provide for a steady recurring repayment profile so that you don’t have the worry of making financial cutbacks elsewhere when worn out equipment needs replacing.

Get the right resources with agricultural equipment financing

If you don’t have the right tools, you won’t be able to carry out your job as well. With our help, we could enable you to obtain exactly what you need, when you need it. If you have tried to obtain financing from other financial institutions, you will know how hard this can be! Often banks will look to secure loans against property which can be costly, time consuming and adds additional worry to farmers. Our type of funding is secured against the assets being funded so is a lot quicker to arrange.

Having the right equipment will ensure your farm runs more efficiently. It will also help you to maximise productivity. With farming being such a competitive industry, there are continual pressures on margins. Therefore, being more productive than other farms is critical to the long term profitability of the farm.

Equipment you could obtain with agricultural equipment financing

A question you may be thinking is what equipment can I finance with agricultural equipment financing? With the right funding, you can get agricultural machinery and vehicles, ranging from arable equipment to milking machinery.

Here are some examples:

  • Tractors
  • Combine Harvesters
  • Farm Vehicles
  • Milking Equipment
  • Dairy Equipment
  • Biomass Boilers
  • Forestry Machinery
  • Solar PV

The type of machinery you want to finance will depend on your type of business and the machinery you currently possess. Perhaps you already know what kind of equipment you need, or maybe you need a bit of assistance to understand what machines would be most beneficial for you. If this is the case, Asset Funder can discuss your potential needs and can help you decide where your money could be best spent. Asset Funder work closely with agricultural equipment suppliers so are well placed to offer you sound advice.

Agricultural industry challenges

If you work in the agricultural sector you are likely, at some point, to need the help of a company like Asset Funder. Having the capital you need to purchase the products you desire can be difficult, especially when so many farming businesses operate with slim profit margins. Other industry challenges include temperamental weather conditions, changing consumer demands, and on-going negotiations with supermarkets. This can contribute to a greatly fluctuating income, which can make affording quality equipment seem even more unrealistic. Furthermore, both new and used equipment come at a significant cost to farmers, as big pieces of machinery often come with big price tags attached. In the farming world, it is almost impossible to avoid this.

Even if you are already keeping a close eye on where your money goes, there may be times you could benefit from additional assistance in the form of farm machinery financing. Most farmers appreciate this and some will have sought out various financing options for their equipment. For those who haven’t we are keen to help.

Agricultural equipment financing help

With our equipment financing, you won’t have to turn to your bank or other financial institutions to get the finance you need. Although these can at times be reasonable alternatives, they can often keep you in limbo about whether they will give you your requested finance. This is made even more difficult by the lengthy applications and the need for financial records you may be asked to dig up. Lenders can also be particularly hesitant when considering offering finance to those in the farming sector, due to the seasonality in cashflow so may require additional guarantees or security against property.

However, we believe farmers shouldn’t feel limited because of the industry they work in. We carefully consider which of our financing options would work best for you, and due to this careful consideration, we have a high acceptance rate. When you come to us, we always do our best to help you as much as we can. We understand that when an agricultural business needs help with financing equipment, they need it sooner rather than later. That’s why we aim to get you the finance you need as soon as possible.

Is agricultural equipment financing right for me?

You might believe that it’s best to use your equipment until it physically can’t be used anymore. However, this is usually a bad decision. This is because old machinery may take a longer time to perform tasks that could be done much more quickly after investing in a new machine. If you choose not to upgrade to a newer machine, there is the constant risk of your equipment failing at any point.

Additionally, depending on the piece of equipment and its use, the old machines could pose a threat to health and safety. Furthermore, equipment should remain in accordance with government and environmental guidelines (e.g. having an emissions certification) and this can be more difficult for older equipment. You simply never know when your tired piece of farming equipment may pack up, which is why it is advisable to look into your options before it’s too late.

Equipment financing for farmers can both change the trajectory of a struggling business, and elevate a successful business to new heights. Many types of agricultural workers and farm owners have come to us seeking our help, and we have been able to help small farms, large farms and all farms in between. Whatever the size of your farm, we might just be able to provide you with the right type of finance for your circumstances.

Asset Funder’s help with agricultural equipment financing

We are a company that can offer help with the financing of agricultural equipment, which could allow you to function even more effectively than you have done before. With our great rates, favourable terms, and understanding team, you can have the best experience when you use Asset Funder. In addition to working in the agricultural industry we also work with manufacturing, construction, and green energy. We stand out from other financial institutions, as we are well experienced in helping many sectors including agriculture.

If you have been struggling to secure help for your farming vehicles or other machines, consider contacting Asset Funder. We may be able to secure the finance you need to make your agricultural venture a success. Our knowledgeable staff are able to explain to you about the whole process of agricultural equipment financing, and answer any questions about your specific requirements.

Moreover, although we believe that equipment financing is well-suited for the needs of many of our clients, we acknowledge that it may not be the preference for everyone. That’s why we also offer additional financial services, such as business loans. If you’re still not sure about how we could help you, get in touch and see which of our services might suit you best.

Contact us today

Choose Asset Funder to fund your farming equipment today. Asset Funder have worked for numerous businesses in the farming sector, and would love to support you too. Our personalised service means that you can trust us to have your best interests at heart. We are here to support businesses by helping them secure the funding they need. So acquire the farming finance you’re after today. Call us on 0800 999 69 62 or email hello@assetfunder.co.uk.

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