Quick access to pre-qualified finance with Figured for your Farming Plans

With MYOB now integrating with Figured, you can now access pre-qualified finance from Figured. With farmers facing both commercial and environmental challenges, Figured lending allows you to be smarter about how capital is accessed and provided. You can use your individual data to apply for loans seamlessly and lenders will be able to make more timely and accurate lending decisions. Heartland Bank CEO, Leanne Lazarus, said: “We are delighted to partner with Figured. We have supported New Zealand farmers for more than 145 years and currently lend to more than 2,000 farmers. 

Being New Zealand’s largest provider of farm financial management software, Figured is used by more than 16,000 of New Zealand’s commercial farms. Figured chief executive, Dave Dodds, said Figured’s move into providing lending services to farmers was a logical step, as it increasingly became a financial hub for farmers and their advisers. “We know that farmers can be ambitious, developing their farm, improving the way they work, and trying new things. But it takes money, which is harder to get these days. That’s why we have teamed up with Heartland Bank and launched Figured Lending – we want to give our farmers and their advisers, smarter options for accessing new capital.” 

There are four types of loans available – Project Financing, Halter Financing, Asset Financing and Dairy Flexi Credit. Dairy Flexi Credit provides seasonal working capital for contract milkers and sharemilkers. It will be able to be used to cover operational expenses, plant & equipment purchases, and unexpected expenses - and pay interest only on funds used. 

This looks like;

- Revolving credit from $10,000 - $100,000, available now at 9.5% to cover cashflow and unexpected expenses 

- Fast application and decision 

- No asset security required (GSA and personal guarantee required) 

- Flexible term up to 12 months 

- Funding possible within 5 working days from the date of signing 

- Available to Figured software customers - Dairy Sharemilkers and Contract Milkers (NZ only) 

They have also developed a Contract Milker Expense Calculator to help those dairy farmers looking to go contract milking, to better understand the income and expenses involved https://lending.figured.com/resources 

‘The process was very smooth – once Figured reviewed our forecast and saw that we had the required sum of money in our account, they transferred the full loan amount" 

- Ryan Braddock, Contract Milker, Longstream Farms 

We can apply for funding through the Figured software so get in touch to discuss if Figured Lending is right for you.