What is FarmCash invoice Finance for Farm Inputs?
FarmCash is a single invoice finance product that frees up suppliers’ working capital that would otherwise have been tied up in unpaid invoices and enables suppliers to offer extended payment deals. The aim is to make it easier for suppliers to provide products and services to farmers but still match the payment cycle to the farmers’ own cashflow.
Who is it for?
Farm input suppliers who provide goods or services to agricultural business customers with whom they have an established trading relationship.
How does it work?
FarmCash takes assignment of the supplier’s invoice, pays the invoice value (less an agreed fee) to the supplier and collects payment by Direct Debit from the customer at specified dates in the future.
What will FarmCash fund and for how long?
Invoices of £2,500 – £15,000 (including VAT) can be funded for periods of 90 up to 270 days. The first payment will need to be made a maximum of 90 days from invoice date or from the date payment is made by FarmCash to the supplier.
How much will it cost?
A detailed rate card is tailored to each supplier’s requirement. A typical charge for a £7,500 deal, payable in 3 instalments over 180-day period, is £577. The fee can be added to invoice and payable by customer or discounted from the invoice.