Farming is a huge part of the UK economy. If you want to run a successful business however, you’ll need money to invest in assets that keep your operation working smoothly – whether it’s upgrading equipment, purchasing brand new machinery, or investing in renewable energy solutions.
Agricultural finance offers businesses flexible funding options to purchase the assets they need, without the burden of large initial purchases. Spread the cost over an agreed term and preserve cash for your farming business with monthly repayments.
Learn more about what you can finance with agricultural funding solutions below.
What is Agricultural/ Farming Finance?
Agricultural finance is funding specifically aimed at farmers and those within the agriculture industry. It can be used to purchase, lease or refinance equipment and assets needed for day-to-day business operations.
Instead of spending your hard-earned working capital on big ticket items, financing allows businesses to spread the cost over monthly payments. Keeping your capital available for when it’s needed whilst investing in the tools you need to run an efficient farm.
What Can be Financed?
There are heaps of pieces of equipment and machinery that agricultural finance can help you purchase. Here are just a few examples of what can be financed:
Agricultural Machinery
Technology and machinery plays an important role in keeping farm operations efficient and productive. Finance can be used towards:
- Tractors
- Combine harvesters
- Balers
- Cultivators
- Seed drills
- Sprayers
- Telehandlers
Farm Vehicles/ Transport
Many farms utilise specialist vehicles or transport equipment types.
Finance options are available for:
- Pickup trucks
- Commercial vehicles
- Livestock trailers
- Flatbed trailers
- Utility vehicles
Livestock Equipment
Livestock feeding and watering equipment can help you improve animal welfare and streamline business processes
Finance can be used for:
- Feeding systems
- Milking equipment
- Livestock housing
- Livestock handling systems
- Water management systems
Groundcare/ Estate Equipment
If your business operates an estate, provides grounds maintenance services or works within diversify farming, funding can be used for:
- Ride on mowers
- Groundcare machinery
- Landscaping equipment
- Utility vehicles
Renewable Energy/ Sustainable Technologies
From investing in solar panels and battery storage to energy efficient machinery – farming businesses are utilising new technology and practices to help reduce running costs.
- Agricultural funding can be used for:
- Solar panels
- Battery storage systems
- Biomass systems and equipment
- Agricultural machinery
- Electric vehicles/ hybrid vehicles
Storage/ Farm Buildings
Business can also make use of funding for:
- Grain stores
- Refrigeration units
- Agricultural buildings
- Irrigation units
- Security/ Monitoring equipment
Benefits of Agricultural Finance
Save Working Capital
Agricultural finance allows you to spread the cost of expensive machinery and tech. Helping you keep your capital tied up for running costs such as wages, fuel, feed, fertiliser and seasonal expenditure.
Invest in New Equipment
Having access to modern farming technology can increase productivity, cut downtime and boost profits. Keep your farm equipment up to date with finance.
Flexible Repayments
As many financing agreements can be structured with business in mind, flexible repayment options are often available. Farming incomes can be seasonal so having a plan that supports your cash flow will help you manage your capital.
Better Budgeting
Instead of struggling with large one-off purchases. Fixed monthly repayments allow for better budgeting. With set payment amounts your can forecast your costs more accurately.
Help Grow Your Business
Expanding your business? Increasing your production? Perhaps you want to diversify into new areas. Funding can provide the money you need to grow, without interfering with your daily business expenses.
Types of Agricultural Finance Solutions
The following funding solutions are available for farmers and agriculture businesses:
- Hire Purchase
- Lease Hire
- Contract Hire
- Business Loan
- Hire Purchase Back
- Refinance
How Outside Finance Can Help Farmers
Here at Outside Finance we understand how difficult it can be to access funding if you’re in the farming or agriculture industry. Not only do we work with a wide variety of lenders, we also offer experience and knowledge to help you find the right solution for your business.
Whether you’re looking to invest in new machinery, upgrade your existing equipment or release equity from equipment already owned – our team is on hand to help you explore your options and find a competitive funding solution.
Get in Touch for a Free Quote
Interested in applying for agricultural finance? Get in touch with Outside Finance today for a free, no-obligation quote.
Find out how our agricultural finance options can help your business thrive.