An agricultural contractor operating across the Midlands has improved cashflow and simplified operations after refinancing multiple existing agreements through a £180,000 facility provided by Alchemy Business Finance.
The business operated a large fleet of tractors, trailers and cultivation equipment servicing farms across several counties.
However, rising monthly commitments across multiple finance agreements were creating increasing pressure on cashflow management.
The contractor was also facing administration challenges managing several separate lenders, repayment dates and agreement structures.
Following a referral from a broker, Alchemy Business Finance reviewed the client’s existing portfolio and developed a £180,000 consolidated refinance package designed to reduce monthly outgoings and simplify the overall funding structure.
The refinance facility enabled several agreements to be merged into one manageable repayment structure while releasing additional working capital back into the business.
The contractor has since used the improved liquidity to prepare machinery for the upcoming silage and harvest season.
Dean Pollen said:
“Agricultural contractors are under huge pressure with machinery costs, labour and seasonal cashflow demands. Consolidation and refinance can often provide breathing space and improve operational flexibility very quickly.”
Alchemy Business Finance has continued to see strong demand for refinance facilities from farming and contracting businesses seeking to restructure existing debt and improve liquidity.