Recently we have had a number of successful loan applications approved for a range of different business, a lot of them through what would be deemed alternative lending sources. Often traditional banks are restricted and as such some businesses fall outside of what would be considered normal lending criteria for one reason or another. For example, tenant farmers who do not own land to borrow against, new entrants or new enterprises that would require budgets to be produced on projections with no historical trading. One such case was where a client had applied for funding to enable them to take on a tenanted dairy unit, currently they operate a beef finishing system on another tenanted farm with no owned land. They initially were unable to find affordable funding until we approached Dairy Futures.
Dairy Futures offers help to suitably skilled individuals with a good business plan, as they go through a significant expansion of a dairy business or begin a new dairy enterprise in their own right. The loan received from Dairy Futures has enabled a young couple to take on a new tenancy and begin to build on their extensive knowledge and attention to detail that will see them develop a successful business going forward.
If you would like further information on any other areas of alternative lending, please contact Harry at firstname.lastname@example.org or your local FCG office.