Countryside Finance Newsletter #1
Car finance - changes a foot
Car finance has been in the spotlight recently as the Financia Conduct Authority (FCA) looks into malpractice, in particular regarding personal car finance. There are examples of dealerships not treating customer’s fairly (shocking news for anyone who has dealt with second hand car dealerships in some instances!) and there are more regulations for finance companies to comply with. As we primarily deal in business finance it’s not a world we have been involved with, but many customers are turning to us to finance their commercial cars and vehicles (pick up trucks, lorries, estate cars etc) as we simplify things as much as possible.
The ongoing rise in costs of vehicles continues to amaze. It is a regular occurrence now to be looking at pick up trucks costing over £40,000.00, with delivery schedules being a further issue. It’s always worth looking around and asking for our quotes on finance payments, but it doesn’t feel like vehicle prices will be slowing down any time soon.
Finance company focus on renewables
More focus is being given by finance companies to backing investment in renewable energy production. We saw a big spike in both enquiries and financing of solar projects as energy prices soared. With grid capacity being a real constraint for many projects there are more solar projects we are seeing that focus on satisfying a on-site energy requirements without needing to export, but it’s a shame to know many projects that could generate a rural business a great return won’t happen as the grid is at maximum capacity.
Finance companies we work with are able to structure deals to suit both the supplier and you as a customer’s needs, for example staging payments which is often requested by solar companies (meaning they are paid a percentage of a project as milestones are met). It’s always worth talking to us to see what we can do to help fund these projects.
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Steven Davies
Head of Agriculture at Societe Generale
Societe Generale Equipment Finance are an experienced lender at the forefront of agricultural finance, with a commitment to innovation and sustainable growth. Our deep industry knowledge helps us to provide our clients with tailored financial solutions in an ever-evolving agricultural landscape.
We can finance clean and green renewable energy solutions, flexible finance solutions for assets including:
- Biomass boilers
- Heat pumps
- LED Lighting
- Battery storage
- Solar panels
- Wind turbines
Countryside Finance’s focus on sustainability aligns closely with SGEF’s commitment to build together with our clients and partners a sustainable future through innovative and meaningful finance solutions.
Customer Focus - Richard Bradley, Bradley Engineering Limited
Richard Bradley founded Bradley Engineering Limited in 2017 while still studying engineering at Harper Adams University. He has grown the business over the years as he increases the number of automated agricultural machines installed for customers, in particular for potato palletising work. Countryside Finance have known Richard and his family for many years, sorting the family farm’s finance needs and now Richards.
Richard says “We’ve doubled our revenue year on year since we properly started trading in 2019. It was a real challenge to start with, as getting funding to help kick the business off is hard. I invested all the money I had into the business, and supplemented it with my income tractor driving to keep it going.”
“Managing cash flow has been one of the hardest things about running a businesses. Asset finance has helped me keep out of using my overdraft and really let the business grow as it has. As one of my university lecturer’s told me, make sure you’re spending someone else’s money and that has worked!”
Richard has faced some unique challenges since he set the business up. “We’ve traded through Covid, supply shortages, the lot, so it’s been a bumpy ride. As part of this I’ve always tried to focus on managing customer expectations. As I’ve literally been in the position of many of my customers [having farmed myself] I can tell them honestly about time scales, costs, and what solutions are possible.”
On what makes Bradley Engineering stand out, Richard is clear that he focuses on bespoke solutions for his customers. “You can have businesses trying to make a product and then just sell it whatever situation a buyer may be in. I’ve always gone out, talked to the customer and looked in detail at the problem they want a robot to sort, and tailor something to their needs. We design, build and maintain a solution that works for each unique situation. No two businesses are the same so we make sure we are answering the problems every individual faces”.
We’ve helped Richard grow the business, in particular with the difficult early years when many new start businesses such as Bradley Engineering Limited face the chicken and egg issue of not having traded long enough for finance companies to want to deal with, yet in desperate need of funds to expand. Richard also recommends Countryside Finance to his own customers purchasing robots. “Tom understands the specialised kit we make and sell, as well as the farming customers we both deal with so it works well.” Richard is highly enthusiastic about his business and is a pleasure to work with, always looking for new ways to grow and improve his services for customers.