In its first month, AGROÚVĚR PGRLF 3+ financed agricultural equipment worth CZK 130 million

Press release

6/1/2012
8:00 AM

Société Générale Equipment Finance has strengthened its position in the farm financing market. As at the end of April, it financed agricultural machinery worth more than CZK 146 million, up 4% year-on-year. The company’s market share in this segment was 9% at the end of the first quarter of 2012.

Société Générale Equipment Finance (SGEF) has achieved this good result thanks to a new product, AGROÚVĚR PGRLF 3+, which helps framers cut the cost of financing new agricultural machinery to the minimum. For the first month of this advantageous loan alone, the company executed deals worth almost CZK 130 million.

AGROÚVĚR PGRLF 3+ is based on the co-operation between Société Générale Equipment Finance and Podpůrný a garanční rolnický a lesnický fond (PGRLF). Clients can obtain a 3% subsidy to the interest rate under PGRLF’s Farmer scheme. Thanks to the new product, AGROÚVĚR PGRLF 3+, SGEF offers up to 3% off the actual amount of the provided loan in compensation for the mandatory 1% increase in the interest rate.

“Société Générale Equipment Finance provides comprehensive services to farmers. The advantageous interest rate is therefore not the only benefit of AGROÚVĚR PGRLF 3+. An integral part of the offering is also an extremely advantageous all-risk insurance cover, which minimises the resulting cost of financing. Our farming clients can fully focus on the key areas of their business and rely on us as a strong and dependable partner when tackling their financial matters,” said Mikuláš Přibyl, Business Director of SGEF in the Czech Republic.

The opportunity to use a subsidy scheme is very important, frequently even decisive, for farmers in their decision-making on purchasing new equipment. In addition to the advantageous subsidies from PGRLF, SGEF’s clients therefore also used subsidies from the European Investment Bank in the past.