Hitachi Capital has set up a £4m 0% interest Rural Emergency Fund to support flood-hit rural and local businesses.
The short term funding is to assist UK farmers who need to replace or invest in equipment that may be required as a result of the flooding that has been experienced in the north west of the country.
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The full cost of the interest during this period will be covered, and it is available on any appropriate asset purchased through a six month hire purchase facility with a single capital repayment at the end of the agreement.
Customers will have the option to request extensions of this agreement at the end of the period.
Gavin Wraith-Carter, general manager at Hitachi Capital Business Finance said: "Hitachi Capital has a long-standing involvement in the agricultural and commercial industries and it is important for us to stand shoulder to shoulder with them when they tackle the implications of extreme weather which can put their business at risk.
"The feedback from our approved brokers and vendors is that farmers and rural businesses are going to need financial support through this tough and challenging time.
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By GlobalData"We are very aware how vital cash flow is for many farmers and small business owners, and we want to go beyond the call of duty and be there when they need us, supporting rural businesses in funding unforeseen capital expenditure needs."
