New tractor and modular building financed for Cambridgeshire farm
Our customer is a dairy farmer based in Cambridgeshire. This established farmer has a large herd and has built up a loyal customer base through their excellent produce and friendly service.
Initial contact
The dairy farmer approached the team from Close Brothers Asset Finance on their stand at the LAMMA event in January 2023 for a funding solution.
The customer had an urgent requirement for finance to purchase a new Massey Ferguson tractor to replace an older, less efficient machine.
Mike Foyle, Regional Sales Manager with Close Brothers Asset Finance worked closely with the business to understand their needs. Mike proposed funding the new tractor through a Hire Purchase agreement.
The funding was quickly approved and the machine delivered to the farm by the following weekend, enabling the customer to maintain the efficient working of the farm.
A second opportunity
The customer was then looking to fund the construction of a new grain store. After being satisfied with the service received by Close Brothers Asset Finance on the first agreement, the customer asked Mike to quote for this new project.
The new modular building would allow the business to maximise their profit opportunities, by giving them the ability to sell grain at any time during the year.
Mike suggested that funding the new modular building with a Hire Purchase agreement would be best for the farmer. By utilising a Hire Purchase agreement, the business was able to acquire the new modular building, whilst being able to spread the cost over monthly instalments.
Outcome
Through a suitable finance agreement provided by Close Brothers Asset Finance, our customer has been able to acquire the new tractor and begin construction of the modular building. They are now able to pay for them in manageable monthly instalments that won’t impact their cash flow.
Mike Foyle, Regional Sales Manager commented: “I’m very pleased with the agreement we were able to achieve with the customer. I look forward to working with them on more deals in the future.”
Our customer said: “The result has been great for our business; both agreements met all the aims we highlighted to Mike. It allowed us to acquire the new tractor in a timely manner and begin construction on the new grain store very quickly. We would look to work with the Close Brothers Asset Finance again in the future.”
