23 Mar Agricultural Funding Success Story 6 – March 2022
Long standing RSP client. RSP knew the client’s position and capability intimately. Client sought independent funding to co-invest in a material agricultural farm in a joint venture arrangement. The farm was to capture geographically and enterprise diversity. Speed to market was essential to prevent losing the opportunity.
RSP was first of the joint venture partners to achieve unconditional approval and at a significantly reduced interest rate. Purchase went through smoothly and without any issues.
Purpose: Farm acquisition
Equity: > 75%
Loan Amount: $8.0m increase
Risk Rating: Strong
Interest Rate: 1.60%
Lender: Mainstream Bank