23 Mar Agricultural Funding Success Story 7 – March 2022

Client Position

Established and successful farmers seeking expansion capital to purchase a nearby farm.  With the pace of acquisitions occurring in the market, the client had to move promptly and decisively.  Client is a long-time client of RSP.

RSP Outcome

With up to date and relevant information on hand, RSP was able to move quickly in creating a full credit submission and supporting data pack for the encumbered bank to assess and approve promptly.  Client was then in a strong position to purchase a farm ahead of their competitors.

Metrics

Purpose:                                            Farm acquisition

LVR:                                                    40%

Equity:                                                62%

Loan Amount:                                  $4.5m increase

Risk Rating:                                       Satisfactory

Lender:                                              Mainstream Bank