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Re: Can I get an agribusiness line of credit?

Posted: Tue Jul 12, 2016 12:14 pm
by Otto Dargan
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