This agricultural contractor required our help with the purchase of a new tractor, with no guarantee as a relatively new trader- making things slightly more complex.
The Challenge
This agricultural contractor based in Sussex was a relatively new sole trader with no guarantees in place, making finance more challenging to secure. The business required funding for a Fendt 724 Tractor- an essential asset for their operations. They required the funding to be spread over an 84- month period with a VAT deferral, providing flexibility to support their cash flow during the early stages of the business.
The Solution
We successfully secured £131,000 in finance, structured as a hire purchase over 84-months. This arrangement included the VAT deferral and a minimum deposit, allowing us to tailor the funding solution to the specific requirements of the business. Since then, the client has returned to Moorgate Finance for additional funding support, including funding for a Land Rover Discovery and a cash flow loan to further drive business growth. The customer has since started operating his own rented farm and has had to hire additional staff to support the ongoing contractual work.
They have also made it clear that he will be returning to Moorgate Finance for future funding due to the efficient service and the great rates he received.
The Highlights
✅ £131,000 funded for a relatively new trading agriculture contractor business with no guarantee
✅ The deal was structured as a hire purchase over 84 months, with a VAT deferral and minimum deposit
✅ The business later returned for additional funding support, including a Land Rover Discovery and a cash flow loan
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.