Over the last twelve months of low prices it seems the dairy industry is starting to recover and many farmers remain optimistic with the current milk price. If you are looking to invest to move your business forwards, make sure your farm finance is the best possible value with least hassle.
The AMC offers a range of products for farmers and agricultural business that when combined together can provide long and short term finance solutions without the annual meeting with the bank or the usual concerns with short term funding.
- Long term finance
The standard AMC mortgage is a long term loan from 5 to 40 years that is arranged to best meet the needs of the business. If fluctuation is a concern, AMC are the only agricultural lending specialist prepared to offer a fixed 30 year mortgage. Whether you choose repayment or interest only is up to you. Alternatively if you need to keep your monthly costs as low as possible during the development/expansion of your business you could have an interest only period before switching to repayment once the investment is complete and you are in a position to reduce the core debt.
The AMC prides itself on its ‘lend and leave’ policy. This means that once the mortgage has begun you will have no annual review or any increased or hidden charges. This is great for those that just want to get on and farm.
- Short term farm finance
If you want to move your debt and cash flow away from your bank the AMC also offer a Flexible Facility. Borrowers can agree over a term of up to 5 years and can draw down any amount of money up to the agreed limit at any time. Then, either the interest or the total can be paid back. This is great for dairy farmers as they can spread the cost of buying in replacements or maize rather than facing large short term bills.
The AMC provides finance to all aspects of the dairy industry and can give certainty in an otherwise uncertain marketplace.
If you are planning to expand your business, erect new buildings or upgrade the parlour or you are switching from a parlour to robots and want to review your farm finance options give Julie a call.