Welsh BPS Loan Scheme

The Welsh Government have confirmed that they will be offering a “BPS Support Scheme” in 2019. This will mean that if farmers are unlikely to get paid on the payment date (1st December), they will be able to apply for the loan.

The loan will be 90% of the estimated payment amount and will be paid from the 9th December. The rest of the 10% will be paid at a later date when the full payment should originally have been made. In order to apply for the loan, claimants must “opt-in” via the RPW online account. Farmers should receive a message or letter from the RPW in due course confirming whether your payment is likely to be late. The “opt-in” is then available from the 15th of October.

Hywel Davies of Rostons commented “If there is a reason why your payment will be late, you should consider applying for the loan. This will be a great help to farmers cashflows and especially to those whose payment is normally late. Please do not hesitate to contact us if you need any assistance”