Fargro Finance will be working with specialist lenders to provide a service to support growers to find the right finance arrangements to expand their business or support their cashflow. The new Fargro division has been launched to meet an increasing demand for responsible, flexible finance in a sector where cashflow can be greatly impacted by seasonal fluctuations. In the past growers have had to rely on standard banking finance which rarely takes the crop cycle into account in repayment terms.
Fargro Finance will launch with bespoke financing options based on a knowledge and understanding of customers’ businesses gained through years of personal interaction, rather than online and impersonal call centres. A Fargro Finance broker will speak with each business to understand their financial needs and to find an effective solution, with the option of seasonally phased repayments to assist the cashflow of the business.
Fargro Finance will support growers to tailor finance for the purchase or lease of production equipment, refinancing existing arrangements, equity release for existing assets, or secured loans for land and buildings. Fargro Finance will also offer a commercial line of credit service which can work alongside existing bank facilities.
“We know from our strong relationships with UK growers there is an urgent need for more flexible finance options in a sector which is at the mercy of seasonal fluctuations.” said Fargro MD, Richard Hopkins. “Traditional financing options for horticultural firms are often not effective due to a lack of understanding of the sector and the seasonal fluctuations which have such a big impact. We are launching Fargro Finance, to support growers in financing their business with seasonally phased repayments.” He continues “Our business is based on a combination of innovation and long-term relationships that means we know our customers’ businesses inside out, and that combination is at the heart of the Fargro Finance offering. We are at the forefront of the move towards automation and smart tech to improve horticultural efficiency, but we also understand that financing investment in new technologies can be a struggle, particularly when growers have to rely on standard finance options. We’ll be putting personal relationships back into business finance.”
Fargro Finance will be officially launched at the Horticulture 4.0 Conference on Friday 26th October at the University of Chichester. The conference is hosted by The West Sussex Growers’ Association and aims to explore the evolution of smart technologies and their effect on the future of commercial horticulture.