Lloyds TSB: New Finance Option For Robotic Milkers
UK - Dairy farmers looking to invest in robotic milking equipment can now access asset finance through Lloyds TSB Agriculture which could help to spread the cost of the equipment and improve farm business cash flow.
9 September 2011
2 minute read
This follows significant research into the current technology by the bank’s commercial finance team and, according to Lloyds TSB’s Agriculture Policy Director Alick Jones, exemplifies the Bank’s strong commitment to the sector.
“We have looked at the role that robotic milking plays in modern dairy farming businesses, including the detail of the technology and resale value of the equipment,” he said at the 2011 Dairy Event and Livestock Show.
“We have also commissioned a wider independent report into the UK dairy sector as part of this analysis."
“There is growing interest in robotic milking, and – in the right circumstances – it can offer system efficiencies as well as real positives for dairy farmers’ work/life balance. Both are important from the perspective of business sustainability and our commitment to support farmers, the farm business and the farming family."
“We have a network of around 150 dedicated agricultural specialists in local teams available to provide guidance and help to evaluate farm investment proposals. Robotic milking could certainly be a consideration for dairy farms of 150 cows plus with a sound rationale for investment, and asset finance could be one of a number of options to finance that investment.”
Lloyds TSB Agriculture has also confirmed that robotic milking equipment is eligible for discounted loan rates that are currently available for a limited period under the bank’s European Investment Bank (EIB) scheme. Whilst funds are available, the EIB scheme offers a 0.8 per cent discount on the normal loan interest rate.
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