02 Mar $10.2m Agricultural Funding Success: $100,000 p.a. Savings
A successful mixed farming family located in the Riverina sought to expand their existing rural holdings to support the professional succession of their children coming back into the farming side of the business.
The family runs a board like management structure which applies strong governance to their decision-making process. This is to ensure that emotional bias is removed from the decision making and that all decisions are made to benefit the business, not the individuals. Third party professionals are often engaged to support this process.
Another farm was targeted for acquisition and given that total borrowings were now going to exceed $10 million. Robinson Sewell Partners was engaged to perform and independent credit review and tender on their behalf.
A strong engagement and collaboration ensued across the selected banks. Very competitive offers were made across the board with the winning bank, after some material price adjustments, maintained the relationship. The result was a smooth funding solution for the client and on a post comparative basis, saving the client in excess of $100,000 per annum. The client now has RSP supporting their business on an ongoing basis.