£35k helps Anita Habberfield modify business and make savings
- £35k enables new venture to invest in time and cost saving equipment
- Lombard’s asset finance helps steady business cash flow with monthly payments
- Anita Habberfield almost doubles business with new milking parlour
Having moved away from sheep farming four years ago due to poor lamb prices, Anita Habberfield was offered a position with a neighbouring farm as a herdswomen on their goat farm. Three years later, she had the opportunity to rent her own goat farm and sourced a herd of 900 goats.
Habberfield approached Lombard when her stock had grown to the point where milking by hand was no longer practical or cost-effective. She required £35k for a milking parlour and, as the business was a relatively new venture, it did not have the capital to make an outright purchase. A milk contract was secured with Delamere Dairy so it was important that the new milking parlour was installed efficiently and without disrupting the day to day operations of the business.
Lombard created a £35k hire purchase funding solution to finance the milking parlour. Rachael Bannerman, Lombard Senior Agricultural Relationship Manager, worked very closely with the customer to understand how her individual farm operated in order to provide the relevant funding option and support. Bannerman explains, “In the last month I’ve had real hands-on experience working on a large dairy farm and a goat farm. It’s been great to get to know Anita but more importantly, I have a much better understanding of her business and to realise that each farm is very different and has very different needs.”
By January, the funding was approved for a new milking parlour and the benefits were instant. Not having to milk the goats by hand saved Habberfield huge amounts of time both in the mornings and evenings. This gave her time to deal with other day to day jobs – jobs that usually would have to be undertaken by an additional member of staff.
Habberfield explains, “Thanks to Lombard’s financial knowledge and experience the investment in the new equipment is paying dividends several times over. By opting for hire purchase, I have retained the option of keeping the equipment at the end of the term, while having a monthly payment system has assisted in steadying my business cash flow. I would definitely be looking at asset finance for future purchases.”
Since this investment the business has grown and Habberfield now has around 1,600 goats with more on the way.
For more information about how Lombard could help your business grow, please call 0800 028 7164. Type Talk 18001 0800 028 7164.
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