23 Mar Agricultural Funding Success Story 5 – March 2022

Client Position

6^th generational farmers were going through a full family succession event in conjunction with a new property purchase.  A complex arrangement of security and ownership restructures were tangled with a new farm acquisition made for a complex and time pressured funding proposal.

RSP Outcome

RSP secured temporary bridging finance to secure the new property whilst working through the complex credit dynamics of the succession.  A successful credit approval and settlement with a new bank (including the refinance of the bridging finance) allowed for the whole succession event to be completed successfully with minimum stress.

Metrics

Purpose:                                            Farm purchase & succession

LVR:                                                    > 50%

Equity:                                                55%

Loan Amount:                                  $10.0m

Risk Rating:                                       Satisfactory

Interest Rate:                                   2.42%

Lender:                                              Refinance – Mainstream bank