A machinery distribution finance programme agreed between Väderstad and financial services company GE Capital will provide UK and Irish dealerships with additional liquidity, seasonal flexibility and rapid automated approvals for shipped product.
The partnership will see GE Capital financing an estimated £22m of Väderstad’s seed drills, harrows, rollers and cultivators from when they leave the company’s production line in Sweden to when they are sold on to farms through the dealer network.
“Our new partnership with GE Capital will enable us to further strengthen the support we give to our UK and Ireland dealer network,” says Väderstad managing director Mike Alsop. “Our dealer network will benefit from dedicated credit lines, which includes plans for both the in-season and out-of-season periods.
“The programme is flexible enough to cater for the seasonal trends we see in our distribution channel while also enabling our dealers to hold the right product at the right time of year to meet customer demand.”
Andrew Stafferton, industry leader for agricultural products at GE Capital’s distribution finance business, says that this support package will help Väderstad diversify its funding model and to take advantage of GE Capitals’ extensive distribution knowledge and expertise.
“I look forward to building on our relationship with Väderstad and to further developing our presence in the agricultural market,” he says.