Livestock producers thinking of investing in their businesses could access discounted borrowing rates from the Agricultural Mortgage Corporation (AMC plc).
AMC has negotiated access to a multi million European Investment Bank (EIB) fund aimed at stimulating investment and job creation in small and medium sized businesses, including those in farming.
This means that loans for eligible projects can be discounted by 0.8% below normal rates for 10 years.
Local AMC agent Oliver Stones says that confidence to invest in new buildings and parlours or to increase processing capacity is strong on the back of relatively buoyant milk prices and a positive demand outlook over the long term.
For those farmers considering farm improvements, a discounted loan at a time when interest rates are historically low could represent a real opportunity to cost-effectively invest in the farm.
“The previous scheme met with strong demand from farmers in the area with many using it as an opportunity to start projects that improve efficiency, productivity or help to manage costs,” says Oliver Stones.
“For example farm energy schemes such as wind, solar or hydro, which are increasingly being seen as a way of mitigating rising energy prices, are likely to be eligible for
“The EIB scheme comes at an interesting time for livestock farming and dairy producers,
especially as they consider how their farm will make the most of the long term opportunities ahead.
“I would urge any farmer who is about to fund a farm improvement programme to find out how the EIB scheme could help reduce costs.”
For more information about the EIB discounted loan scheme from AMC and whether your project is eligible contact Oliver Stones at Dee Atkinson and Harrison on 01377 253151 0r email: email@example.com