2014-01-24  

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Farmland Finance Commits £50million Funding for Farmers

Farmland Finance, the specialist short term funder for the agricultural community, has launched a £50million fund to lend to farmers over the next 18 months.

The fund will be available to farmers looking to expand or buy land as well as for those wanting to raise funding against existing land or properties they hold in order to inject capital into their business.

Laura Morgan, agricultural relationship manager at Farmland Finance

Laura Morgan, agricultural relationship manager at Farmland Finance

Farmland Finance specialises in assisting the rural community with all aspects of short term lending. It provides fast and flexible short term bridging funding, usually up to 12 months.

Laura Morgan, agricultural relationship manager at Farmland Finance, said: “Access to funding for farmers has been a major problem in the sector with many of the big lenders tightening their belts and some exiting the market completely.

“A recent survey revealed nearly one in four farmers say access to finance is a cause for concern, rising from 17 to 23 per cent over the past 18 months.*

“Many of the farmers we speak to have been declined funding requests from traditional banks, or feel they’ve had to jump through hoops during the application process. For the majority of purchases, whether it be land, stock or equipment, farmers need to act quickly, that’s why we offer flexible funding which can be made available within 48 hours.”

* Forum of Private Business

Farmland Finance will lend against most types of agricultural property and land; including equestrian, country homes with agricultural restrictions, working and non-working farms, farm shops and all general types of rural properties.

The £50million fund will be available to farmers and landowners wanting to buy more acreage, diversify into farm shops, utilise disused farm buildings for conversion or even develop renewable energy schemes. There are no restrictions on what funds are being raised for.

Farmland Finance has many years of experience in financing farmland deals and its understanding of the market means it is often better placed to make finance available where traditional banks and loan companies may refuse.

Farmland Finance

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