Supporting diversification plans with asset finance

With rising costs across the board, farmers are increasingly looking to diversify and find innovative ways to save and make money.

Photovoltaics or a biomass boiler are a good example, which can be used to supplement the energy needs of both the farm and house.

This does – of course – come with an initial outlay, which the agriculture team from Close Brothers Asset Finance can support with, along with the traditional machinery and equipment. 

The company says it understands how passionate the farming community is about their land and looking for opportunities to adapt its use, including for camping, glamping, farm shops and restaurants, and hosting weddings and wedding fairs – plus supplying some of the meat and produce for the event. 

In South Africa there’s a well-known saying that goes: ‘n boer maak n plan’, which roughly translates to ‘a farmer always has a plan’, and that’s clearly evident in their ability to spot an opportunity and willingness to adapt, depending on prevailing conditions, Close Brothers says. 

Farmers are traditionally long-term thinkers, planning not just for today but for the next generation and the one after that.

This generational model has been proven to work, with new ideas and ways of working being introduced. 

Diversification has received national attention through Clarkson’s Farm, which demonstrates not only the difficulties farmers face, but the opportunities available to those willing to do things that bit differently.

Clearly, this takes investment, but the returns can be significant. 

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Dedicated team

Close Brothers Asset Finance’s offering spans everything that might be needed by farmers of all types – from small dairy farm to large arable, and everything in between.

Its dedicated team of agricultural specialists have extensive knowledge and experience of the sector, which gives them the ability to confidently support you and your business, the company says.

The team understands the challenges facing agricultural businesses, including the high running costs from equipment and machinery that can make it difficult to raise the necessary capital to support growth plans, including diversification. 

Its process is simple but effective – its agricultural team will work closely with you to create a finance agreement that works for you.

That could be releasing capital from an existing asset to invest in new equipment or spreading the cost of your repayments to match your seasonal income.

Using its specialist knowledge, the company will guide you through the application process, enabling you to take full advantage of the benefits of asset finance. 

For more information, please visit closeassetfinance.co.uk/agriculture

_{The availability of lending, products and services are subject to eligibility, status and Close Brothers’ lending criteria. The right to decline any application is reserved, terms and conditions apply.}

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