The Agricultural Mortgage Corporation (AMC) not only provides long term borrowing for those in the agricultural sector but also provides a flexible facility commonly used by Landowners in replacement of an overdraft.
The flexible facility is designed to offer a flexible lending option that can be tailored to short term projects or a business purpose. The perfect example at the moment would be for the additional purchase of fodder.
Wholecrop has been selling in the region from £450 – £850 per acre and some farms throughout the North West have been purchasing silage from Somerset to ensure buffer feeding is available, especially for those who house their cows indoors. The AMC flexible facility provides access to funding that can be drawn down when you need it and repaid when cash flow allows.
There is a minimum facility limit of £30,000 with no maximum, up to a term of 5 years as with the AMC land is used for security, available on a variable rate of interest and the interest is only charged on the amount drawn. If you believe you may require additional funding to ride out the fodder shortage then please do not hesitate to contact Tom Selby at Rostons, who would be able to provide more information.