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Farm Business
Agricultural Matters
Input finance to support more efficient cash-flow - Who uses?
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<blockquote data-quote="Johnnyboxer" data-source="post: 7126901" data-attributes="member: 5732"><p>It’s all been done before to a greater or lesser degree</p><p></p><p>Merchants have always offered terms, for alternative payment options and usually added at a £1 or two onto the price</p><p></p><p>Now they want to formalise it, hence Oxbury opening up </p><p></p><p>Traditionally Finance companies have dabbled in and out of it for many a year, as the mood and market takes them</p><p></p><p>Problem is that it’s largely unsecured, short term (<12 months or less) and therefore the interest rate is higher. It also needs to be highly automated for credit underwriting and processing as ‘real people’ add significant cost to each agreement.....Therefore many finance companies find it not hugely attractive</p><p></p><p></p><p>NFU Mutual Finance with their 20:20 cheque book account was ideal for farmers, easy to use and the bank to administrate - but sadly gone now</p></blockquote><p></p>
[QUOTE="Johnnyboxer, post: 7126901, member: 5732"] It’s all been done before to a greater or lesser degree Merchants have always offered terms, for alternative payment options and usually added at a £1 or two onto the price Now they want to formalise it, hence Oxbury opening up Traditionally Finance companies have dabbled in and out of it for many a year, as the mood and market takes them Problem is that it’s largely unsecured, short term (<12 months or less) and therefore the interest rate is higher. It also needs to be highly automated for credit underwriting and processing as ‘real people’ add significant cost to each agreement.....Therefore many finance companies find it not hugely attractive NFU Mutual Finance with their 20:20 cheque book account was ideal for farmers, easy to use and the bank to administrate - but sadly gone now [/QUOTE]
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Input finance to support more efficient cash-flow - Who uses?
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