£85,000 for diversification project
Location: Nr-Carlisle, Cumbria
General Background
This midsize dairy farm had been hard hit by reducing milk prices over the last couple of years. They had recently produced some small batches of Halloumi cheese which had been well received in local markets and shops and they now had more orders but no capacity to produce the increased volume. The needed new funds to renovate one of their sheds and purchase new equipment to scale up production.
Finance Background
- Private limited company
- Property owner with 65% mortgage
- No profit in business for last 2 years
- Maxed overdraft at £50,000 but well managed
- One finance agreement on a new telehandler
- Bank not able to help because of poor recent accounts
Alchemy Funding Approach
- Type: Sale & Leaseback
- Term: 48 months
- Funding security to value: 45%
Security
- Tractors x 2
- Tedders x 2
- Mowers x 2
- Muck spreader
- Square baler
- 40 dairy cows
Rate
- 6.2% net
Location: Nr-Carlisle, Cumbria
General Background
This midsize dairy farm had been hard hit by reducing milk prices over the last couple of years. They had recently produced some small batches of Halloumi cheese which had been well received in local markets and shops and they now had more orders but no capacity to produce the increased volume. The needed new funds to renovate one of their sheds and purchase new equipment to scale up production.
Finance Background
- Private limited company
- Property owner with 65% mortgage
- No profit in business for last 2 years
- Maxed overdraft at £50,000 but well managed
- One finance agreement on a new telehandler
- Bank not able to help because of poor recent accounts
Alchemy Funding Approach
- Type: Sale & Leaseback
- Term: 48 months
- Funding security to value: 45%
Security
- Tractors x 2
- Tedders x 2
- Mowers x 2
- Muck spreader
- Square baler
- 40 dairy cows
Rate
- 6.2% net
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