CASE STUDY 1
Example of Asset Refinancing: £22,500 for tractor purchase
Location: Nr-Exeter, Devon
General Background
This arable farmer had an ageing tractor which needed replacing urgently because of a failed gearbox and he was due to begin drilling. His high street bank couldn’t help in a short timeframe as loan applications were taking a minimum of two months for a decision and there were no guarantees of it being successful.
Finance Background
Sole trader
Tenant Farmer
Maxed out on £20,000 overdraft but well managed
Small loss in business accounts for last 2 years
One other equipment finance agreement with 2 years to run
Alchemy Funding Approach
Type: Sale & Leaseback
Term: 60 months
Funding security to value: 48%
Security
Tractor being purchased
Round baler
Bale trailer
Pickup truck
Rate
6.9% net
You can read this update from Alchemy Business Finance on TFF's AGVendor...
Location: Nr-Exeter, Devon
General Background
This arable farmer had an ageing tractor which needed replacing urgently because of a failed gearbox and he was due to begin drilling. His high street bank couldn’t help in a short timeframe as loan applications were taking a minimum of two months for a decision and there were no guarantees of it being successful.
Finance Background
Sole trader
Tenant Farmer
Maxed out on £20,000 overdraft but well managed
Small loss in business accounts for last 2 years
One other equipment finance agreement with 2 years to run
Alchemy Funding Approach
Type: Sale & Leaseback
Term: 60 months
Funding security to value: 48%
Security
Tractor being purchased
Round baler
Bale trailer
Pickup truck
Rate
6.9% net
You can read this update from Alchemy Business Finance on TFF's AGVendor...
