I meant to say baldy ,the infamous @Bald RickMy pic has caused quite some discussion... funny. The 'ohhhh thread' - really such thing? My Insta is 'mamaowen16' where there's more pic's. You'll see that I'm a legit, normal everyday kinda gal
Input finance to support more efficient cash-flow - Who uses?
- Thread starter A-Owen
- Start date
There's something in that perhaps... thinking out-loud and indeed requires more thought, but what about a savings account where the 'cash rich' farmer earns interest on funds deposited, of which is then used to support the 'cash poor' farmer when they need... a swings and roundabouts scenario. Similar to peer-to-peer lending, only without the issues relating to security assets as this would be relative only to the farmer requiring credit.... Thinking hat is onsome farmers are cash rich at times and others cash poor some or all of the time.. I have often wondered if there would be a mechanism for those sitting on cash to get a return by lending it to those in need of cash.. A peer to peer pawn network of some form? Perhaps one party loans the other cash and takes possession of an item of greater value as security such as a tractor or an implement. The loan is repaid with interest and the item returned or the lender become the legal owner of the security asset. The cost of transporting assets around does rather limit the radius in which exchanges would work though.
Maybe we could loan tff points to those who don’t have many.
Good morning all,
It's been a busy week trying to arrange travel for my son... not so straight forward at the moment! but hey i'm back and have rounded-up some key points you have mentioned as to what a good input finance offering would be .... so here goes;
* @Doc @Happy at it @Farmertom1988 - Fast & easy access with a competitive rate vs bank. A low rate around 1.5% vs 5% average current would be attractive
* @SilliamWhale - Unsecured, i.e. upto £50k then secured against assets only not necessarily against land. @40 series offers a good idea to secure against crop value instead where possible. Certainly not costing you £16k right!
* @farmerm notes another great idea along the lines of peer-to-peer lending only there are clear issues with this, however, I see currently banks savings rates are pretty naff, therefore an FCA backed savings account for farmers only, where interest rates are guaranteed to be higher than currently offered by mainstream banks. Aside from security of being regulated by the FCA, a higher return guaranteed AND knowing funds are ONLY used to support others farmers via input finance at a time when needed - The 'cash rich' get to help the 'cash poor'. This could be like I said, a swings and roundabouts type offering where the wider farmer community is supported. @jendan I appreciate some farms can manage finance of inputs without need for finance, therefore this farmer profile could instead support others via a higher interest savings account option knowing funds deposited are only used to help other farmers who do require some support and in return gain a higher return on investment - a win-win for all is what I am thinking.
* @teslacoils - Agree, you can often get decent payment terms with a distributor/supplier without going to a bank, however, wouldn't it be great to have all invoices and payments automatically managed through an integrated system direct with your suppliers to lift some administrative burden and with the knowledge of low-cost finance being available should it be needed as a bonus and at no extra cost?
* @DealeyPlaza1963 - This sort of finance I expect to be admin heavy with much lower return compared to most Ag Finance lenders, hence so many appear to have withdrawn and why I don't think this would be suitable for Greensill. I'm thinking a new Ag finace offering would instead have to work on the proviso of up-take volume, incentivised by low rates, higher interest, ease of access, alternate security options (not necessarily land), and the fact that that can be used to support the UK Ag industry as a whole as all savings are used only to support fellow farmers.
Please feel free to comment and/or add to this list.... So far, there seems to be a gap here but more research to be done, hence your input is greatly appreciated please guys & gals
@beardface @Doc @lloyd - It's catfish time - off to meet with @Clive and the crew today to discuss taking over the world... starting with TFF obvs
Have a super day all!
It's been a busy week trying to arrange travel for my son... not so straight forward at the moment! but hey i'm back and have rounded-up some key points you have mentioned as to what a good input finance offering would be .... so here goes;
* @Doc @Happy at it @Farmertom1988 - Fast & easy access with a competitive rate vs bank. A low rate around 1.5% vs 5% average current would be attractive
* @SilliamWhale - Unsecured, i.e. upto £50k then secured against assets only not necessarily against land. @40 series offers a good idea to secure against crop value instead where possible. Certainly not costing you £16k right!
* @farmerm notes another great idea along the lines of peer-to-peer lending only there are clear issues with this, however, I see currently banks savings rates are pretty naff, therefore an FCA backed savings account for farmers only, where interest rates are guaranteed to be higher than currently offered by mainstream banks. Aside from security of being regulated by the FCA, a higher return guaranteed AND knowing funds are ONLY used to support others farmers via input finance at a time when needed - The 'cash rich' get to help the 'cash poor'. This could be like I said, a swings and roundabouts type offering where the wider farmer community is supported. @jendan I appreciate some farms can manage finance of inputs without need for finance, therefore this farmer profile could instead support others via a higher interest savings account option knowing funds deposited are only used to help other farmers who do require some support and in return gain a higher return on investment - a win-win for all is what I am thinking.
* @teslacoils - Agree, you can often get decent payment terms with a distributor/supplier without going to a bank, however, wouldn't it be great to have all invoices and payments automatically managed through an integrated system direct with your suppliers to lift some administrative burden and with the knowledge of low-cost finance being available should it be needed as a bonus and at no extra cost?
* @DealeyPlaza1963 - This sort of finance I expect to be admin heavy with much lower return compared to most Ag Finance lenders, hence so many appear to have withdrawn and why I don't think this would be suitable for Greensill. I'm thinking a new Ag finace offering would instead have to work on the proviso of up-take volume, incentivised by low rates, higher interest, ease of access, alternate security options (not necessarily land), and the fact that that can be used to support the UK Ag industry as a whole as all savings are used only to support fellow farmers.
Please feel free to comment and/or add to this list.... So far, there seems to be a gap here but more research to be done, hence your input is greatly appreciated please guys & gals
@beardface @Doc @lloyd - It's catfish time - off to meet with @Clive and the crew today to discuss taking over the world... starting with TFF obvs
Have a super day all!
lloyd
Member
- Location
- Herefordshire
How did the meeting with Clive and crew go ?
I hope it didn't end with you washing the combine like some
take out of the film 'bad teacher'.
Disclaimer - There is a thread running on putting the combine away after harvest.
I hope it didn't end with you washing the combine like some
take out of the film 'bad teacher'.
Disclaimer - There is a thread running on putting the combine away after harvest.
How did the meeting with Clive and crew go ?
I hope it didn't end with you washing the combine like some
take out of the film 'bad teacher'.
Disclaimer - There is a thread running on putting the combine away after harvest.
@lloyd, sorry for my delayed reply! These past few months have been a time of significant change since my 'combine washing escapade' with @Clive & crew - My career has taken a whole other direction now
No seriously, it was a good meeting and I have full support for all the great initiatives @Clive & @Chris F are working on for the benefit of you guys/gals. As you know, I had been researching finance for farmers as a possible opportunity to explore since I'd been made redundant and too want to support farmer sustainability, however, after much intensive research and talking with @Chris F, it became apparent that @Oxbury Bank are indeed now offering the sort of low-cost, flexible farmer finance I had in mind, and have since spoken with Nick Evans the MD to confirm. So whilst this is clearly not an avenue I can pursue, it is however positive to hear of new finance options coming in to the market instead of being withdrawn like many of the big players have already done so. I look forward to watching the progress of @TFF & @Oxbury Bank from a short distance.
So for me, on to the next challenge whatever that may be.... combine cleaning perhaps
Thank you again for all your feedback and funny comments