| 2013-01-25 |  |
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South Wales land agent, Jonathan Andrews, is urging farmers to make the most of discounted loans available for diversification and farm improvement projects.
He says access to the multi-million pound fund provided by the European Investment Bank (EIB) and negotiated by AMC is ideal for Welsh farming businesses. The money can be used to provide new or improved crop storage and processing facilities, livestock housing, parlours, farm shops and other diversifications as well as wind turbines and solar panels.
Mr Andrews explained that the funding means that AMC can offer 0.65% off their normal lending rates for eligible projects. It provided an opportunity for farmers to do something different at an affordable price – with savings of more than £600 a year on a £100,000 loan.
He added: “This is a very exciting project and particularly suited to businesses in South and West Wales. These discounted loans are very appropriate in that they will give dairy farmers and others the opportunity to invest at a very competitive rate.
“It’s particularly appropriate at a time when generally it’s so difficult to access finance, that AMC has chosen to focus on innovative investment through access to the European investment bank. The range of projects encompasses farm energy projects which can save farmers further money as well as also livestock buildings and, given the rainfall over the last 12 months, grain drying equipment is also an attractive option.
“The size of the fund pot is limited and uptake is expected to be high so I’d urge anyone thinking of investing in wind turbines, solar panels, processing facilities, new vehicles, or even a new orchard, to come in and have a chat.”
Mr. Andrews has been the Senior Partner of Carmarthen based Chartered Surveyors, Llewellyn Humphreys since 1970 and is Agent and Valuer for the Agricultural Mortgage Corporation. Amongst his other private Clients are the University of Wales. Mr. Andrews is a Deputy Lieutenant for the County of Dyfed and was High Sheriff for Dyfed in 1999/2000.
