28 Jan Agri Finance Funding Success Story 2 – January 2021
Loan (limit) $4,600,000
Enterprise: Agribusiness: Beef Cattle
Lender Type: Tier 1 Banking: Refinance / Restructure
Location: Northern NSW
A well-established grazing family was facing resistance from their encumbered bank for additional capital to restock after the drought had broken. The clients then believed that their bankability was questionable and considered selling a major asset even though their equity was great than 85%.
Additional capital for full restocking and working capital achieved.
New Bank, New Bank Manager, New Restructure Facilities.
Land prices have since and are continuing to rise since.
- Old Interest Rate (variable): 5.36%
- New Interest Rate (variable): 2.62%
- Annual Savings (based on loan limits) $126,040 p.a
- Savings over 5-year period: $630,200
- Year 1 Return on Investment = 2,500%
- Ongoing support from Robinson Sewell Partners