We often speak to barrowers who feel nervous about seeking finance to help them restructure or recover their business. But it’s an unfortunate truth that the unexpected can and does happen. Even with the best laid plans, unexpected events can lead to a need for recovery and restructure finance.
No matter how much you plan within your agricultural business, forces outside of your control can mean that you need financial assistance and we are here to help. At UK Agricultural Finance, we offer recovery and restructure finance to help weather any storm and our sympathetic, highly experienced team are here to support you and ensure that you can get the finance required, when you need it.
How our team can guide you through Recovery and Restructure Finance
Each of our barrowers has access to a specific member of our team who will support them through the whole process from first contact to the completion of the loan regardless of what that may involve. Unlike many lenders in this sector, we offer every barrower on-site farm visits, from our team regardless of loan size or situation. We pride ourselves on our personal customer service and in-person visits is a big part of this approach.
Our team take the time to fully understand your agricultural business and the issues you are currently facing. They then work with you to develop a plan of action so you can apply for the most appropriate type and level of financing. The team also works alongside the barrower to plan for their finance exit strategy, this might involve refinancing to a high street bank, or paying off the loan directly.
We will match you with the most suitable and affordable financial options for you that work. Once you are happy to proceed, the relevant checks will be made and finance is issued within a timely manner.
Unlike some lenders our front-line staff have a direct line of communication to our credit control team. This means that given the right information they are able to establish and offer in principle within 48 hours. They are also able to liaise with the credit control team to best understand the requirements from the barrower to achieve the most appropriate loan for their situation.
Case Study: Recovery and Restructure following family tragedy
Sadly, we often find that recovery and restructure finance go hand in hand with family tragedy. This was the case for one client who require finance following the loss of his business partner and brother. The two brothers farmed together in Leicestershire with a successful agricultural business, however, one brother sadly died. This left the remaining brother with a complex financial situation through the settlement of the estate, he required a bridge loan to help his restructure the business and settle the estate.
Following the death of the brother, there was a dispute within the family regarding his estate. This eventually ended up in court and during this time the remaining brother required quick capital to maintain the farm and avoid a forced sale.
Our team had a clear understanding of the collateral, and were able to act quickly and convince the creditors that a loan could be provided. We were able to see through the family dynamics and focused on a hard-working farmer who wanted the fourth generation to remain on the farm.
In this case the exit strategy took some time to establish as it involved the whole family, but they are putting 12 acres up for sale and will redevelop an old farm cottage for sale. These to activities will allow them to clear some of the loan and the rest will then be able to be refinanced with the High Street.
Would you like more information about the recovery and restructure finance we provide? If so, then please do not hesitate to get in touch. You can call us on 01732 252 399 and we look forward to speaking with you soon. If you prefer, you can send us a message via our online enquiry form and once received, we will reply to you.
Look no further for the leading agricultural recovery and restructure finance providers!