Can I get an agribusiness line of credit?

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Rupez
Posts: 2
Joined: Tue Jul 12, 2016 8:01 am

Can I get an agribusiness line of credit?

Postby Rupez » Tue Jul 12, 2016 10:01 am

I have been in the agricultural business for over 5 years now and business has been good. But it can be so much better if I can get some help to manage my cashflow. Because I earn seasonal income, I always seem to find myself short of money at some point, which usually ends me in some sort of compromise and loss of potential opportunities for gains. I want to enquire if I can get an agribusiness line of credit and if yes, what type of deal will that be.

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Otto Dargan
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Re: Can I get an agribusiness line of credit?

Postby Otto Dargan » Tue Jul 12, 2016 12:14 pm

Hi Rupez,

You can get agribusiness line of credit and this can help you have a good cashflow solutions for seasonal income. This will help you bridge the gap in your cashflow so you can get on with running your farm.

WIth this, you may be able to borrow anywhere between 60-70% of the value of the agribusiness and farmland in order to secure the line of credit. If you use residential property as security then you can actually borrow up to 80% of the property value.

The interest rate on this will be the variable interest rate only using the 30, 60, 90 or 180-day bank bill swap rate plus a margin, and you can capitalise interest for up to 2 years with some lenders.

It is an unlimited revolving facility with a minimum LOC limit usually of $10,000 and with no maximum limit. As long as you have the equity and can show that you can afford the LOC, you can borrow what you need.

You can learn more by checking out our website or by calling us on 1300 889 743 or enquiring online and speaking with one of our experienced mortgage brokers who specialise in agribusiness loans and farm finance.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
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Rupez
Posts: 2
Joined: Tue Jul 12, 2016 8:01 am

Re: Can I get an agribusiness line of credit?

Postby Rupez » Tue Jul 12, 2016 4:18 pm

The rate using one of those various bank bill rates is actually quite flexible and reasonable for me. I'm really interested in this so I want to speak with one of your mortgage brokers to discuss this in detail so I will call sometime in the coming week.


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