We offer great deals on Farm Machinery Finance for clients Australia Wide, across all forms of Farming. Even though our office is located in the CBD of Brisbane, we can effectively communicate with our clients – given an evolving internet network and expanding mobile phone coverage. As this is the case, we can facilitate fast and hassle free finance for our rural based customers.
There are a few steps that we need to take, in order to ensure that our clients receive the best available loan structure relating to Farm Machinery Finance.
- Ascertain what type of farming the client undertakes
- The geographical location
- Time in business
- Background of the property owners or Farm Manager
- How many head of livestock or crop numbers and overall land size of property
- What time of year harvest is completed or livestock sold
We have consultants with a good understanding of the Farming Industry in Australia and are familiar with most areas of the country. As a result, we can confidently offer professional advice on Farm Machinery Finance to all clients we deal with.
- What type of Farm Machinery is the applicant looking to purchase
- Are the goods new or second hand and if second hand how old
- Are the goods being purchased through a dealer or a private seller
- Will the proposed purchase generate additional income or will it be replacing an existing machine (if a replacement machine, will it be traded in)
- Will applicant be financing the full purchase price or will they be contributing the gst amount upfront
- Is there collateral security over other farming equipment if required
There are many different risk factors associated with Farm Machinery Finance. Such factors include, the type of goods, the age of goods and the total purchase price. The risk profile on different types of farm machinery can be reduced through cash deposits, collateral security over items of unencumbered equipment or reduced finance terms.
- We need to get a handle on the borrowing entity or the interrelated company or trust structure
- Information surrounding assets and liabilities of the borrowing entity
- Who are the directors of the borrowing entity and what is their personal asset position
- Trading performance relating to the farm venture through last two years financial statements
- Is a cash flow projection available to show an increase in turnover compared to the previous year
- What type of payment structure is the client seeking – i.e. monthly, yearly or seasonal
Many Farming Enterprises have multiple company and trust structures that can affect the outcome for Farming Equipment Finance. At times it can be difficult to follow these structures, but our consultants have many years’ experience with multiple level company borrowings.
- Quote a payment to the client based on their desired payment structure
- we take down the full application details over the phone or email the application through to the applicant for completion
- Contact is made with the client’s accountant in order to request financial statements for the last two years or to see if any cash flow projections have been prepared.
Even though we request financial statements for the last two years, we can look at low doc options for Farm Machinery Finance if financials are not available.
- Once all information has been returned, the application is prepared by a consultant that specialises in Farm Machinery Finance
- Deal is then presented to our credit team
- The deal is approved by our credit team within 24 hours
- Client is notified that the deal has been formally approved and that they can now negotiate the best price on their new machine
We strongly believe that if our clients have a formal Machinery Finance approval in place, they have a better chance of obtaining a good deal on any machinery purchase. For instance, once the client sees the machine they want, they can offer the vendor a reduced sale price in exchange for an immediate settlement.
- Client negotiates a price with the vendor
- We request an invoice
- Client signs finance documents
- Deal gets referred to our settlements department
- Vendor gets paid and client takes delivery of the new machine
- Post settlement pack sent to our client with a follow-up phone call made a couple of weeks later
Even though our office is situated in the middle of the CBD Brisbane, with email and telephone our settlements of Farming Equipment Finance are still quick and easy.
Benefits for farmers by using Heavy Vehicle Finance for Farm Machinery Finance
We have consultants with real world knowledge of farming and farming equipment
Finance options for farmers in rural areas are limited. However, we can offer various alternatives compared to the local finance provider
We can approve payment structures to meet cash flow requirements – i.e. monthly, yearly or seasonal
With an ever evolving internet and mobile phone service in rural areas, we can deal just as effectively with our rural customers as we do with our metropolitan customers
We finance most types of farm machinery. Below is the most common types of Farm equipment that we finance.
We encourage any enquiries relating Farm Machinery Finance. Please call one of Finance Consultants on 1300 788 740 to discuss any funding scenarios or complete our simple online PRE-APPROVAL FORM.