Competitive finance for early fertiliser orders

Kemira GrowHow and ING Lease UK, one of Europe’s foremost sources of lease funding have announced special new season finance deals for farmers looking to place fertiliser orders in June and July.

“Welcome as the news is that farmers will receive interim payments towards their SFP entitlement, we recognise that for many, cash flow will continue to be a major headache over the coming season,” says Ken Bowler, Kemira GrowHow’s Marketing Manager.

“Over the last few years anyone buying early has definitely had a substantial cost per tonne benefit and there is little reason to suggest that this will change for the 2006 season. We’ve come up with this package of finance options to help our customers in response to the Single Farm Payment delays and the reduction in the number of companies willing to offer unsecured lending for fertiliser purchases,” he adds.

The finance options are part of the company’s GrowHow Finance scheme introduced in March 2003. ING’s Richard Holman explains, “At a time when wholesale money rates are rising, these options are based upon fixed rates and repayment dates. Farmers can purchase GrowHow fertiliser when needed and repay from future income. There’s a minimum balance financed of £2,750.00 including VAT, with options for new season purchases that will enable farmers to take extended credit - with some deals offering repayments up to spring 2007. There are no other fees or charges allowing farmers to determine from the outset the exact cost of their fertiliser purchases,” he adds.