Farmers across the United Kingdom are being urged to look into discounted loan rates offered by the Agricultural Mortgage Corporation (AMC). The improved loan scheme comes following AMC’s negotiations with the European Investment Bank (EIB) creating access to a multi million pound fund. This is aimed at stimulating investment and job creation in small and medium sized business, including farming.
Tim Parsons, Director of H&H Land and Property explains the opportunities this presents farmers in the United Kingdom.
Access to this fund subsidises loans for a wide range of farm improvement and diversification projects including building works, livestock housing, machinery and equipment purchases, farm shops, milking parlours and farm energy schemes.
“We really are urging farmers with a project in mind to contact their local AMC Agent to discuss the opportunities this funding can offer”.
Now is a good time for both livestock and arable farmers to look to expand facilities or invest in more efficient systems. With a growing population comes a growing demand for food and farmers need to be looking at reducing their costs and maximising their outputs and revenue.
The scheme provides farmers who are considering expanding or investing in improving farm efficiency access to favourable loan rates. Those eligible for the EIB scheme will receive a discount of 0.65% off the normal loan margin.
The minimum amount borrowers can apply for in the scheme is £25,500. The discount is available on loans of up to 10 years for projects that have a definite start and end date and the loan must be complete by December 2013.
“While the discount cannot be used for land purchase or re-financing existing loans, it can be used to finance a range of projects. As AMC agents we would be very pleased to talk through any plans you have including whether your farm investment project would be eligible for a discounted loan.”
“The fund is limited and we saw a strong demand from farmers for a similar scheme last year so we would suggest you contact us soon if you would like any further information or a no obligation and confidential discussion”.
For more information, contact Tim Parsons or Craig Brough at H&H Land and Property on 01228 406 260.
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