When Welsh agricultural contracting and farming business Slade Hall Farms needed to purchase an expensive new piece of machinery to help with their growth ambitions, they knew who they could turn to.
Having already supported this mother and son partnership to purchase assets when they were first introduced to us by industry broker Fosse Asset Finance, we were delighted to be given the opportunity to support them again with the acquisition of a new tracked jaw crusher to replace an older machine. Regional Director John Hallett explains, “We have built a great relationship with the team at Slade Hall Farms, and they had already financed an existing crusher through us so they knew what to expect in terms of quick delivery and how simple it would be to obtain the equipment they required”.
With the asset sourced, our team quickly tailored a solution to facilitate the purchase. Hallett continues, “This £319,600 deal was completed on a Finance Lease with £100k advanced rental over 60 months. Lease Financing means that we purchased the asset ourselves and are leasing it to the business, allowing for a smaller deposit and less disruption to cashflow. At the end of the agreement the business can decide to extend the lease, upgrade against a similar machine or return it to us, providing them with much more flexibility than if they had bought it outright in the first place”.
The crusher will replace an older, less efficient machine which was costing the business in time and money due to technical issues and costly repair bills. Owner Elizabeth Jones adds, “Ultimate Finance have delivered consistently on their promise to provide the right funding to our business, and we have used their Asset Finance solutions a few times now as the funding and the service that comes with it have proven to be exactly what we needed”.
With Asset Finance facilities up to £1.5m per business and £500k per singular asset, an Asset Finance solution can be tailored to meet many requirements, from Purchasing, to Leasing and even Refinancing where cash tied up in existing assets can be injected back into the business quickly and effortlessly. And with Ultimate Finance’s approach to Structured Finance, it is easy to combine plants or machinery to a mix of receivables and/or property to access up to £10m within one easy to manage package.
If you are an Introducer looking to partner with Ultimate Finance, register online in one minute today, or to discuss the funding requirements of your business you can message our team via our quick contact form.