Frustrated cotton farmer gets better farm business loan terms via AgLend’s vast credit network

CHALLENGE:

Rural borrower unhappy with current loan terms.

OUTCOME:

Borrower’s outstanding loans refinanced by a new lender under friendlier terms and lower amortisation rates.

Local farmers were frustrated about loan servicing hurdles they commonly experience with a local bank. One of them, a cotton farm owner, approached AgLend Finance to complete an annual review. But instead of just completing this exercise for one local bank, AgLend Finance sat with the farmer and his associates to draft a review that they could also explore with other lenders.

Noting the farmer’s thriving business and his long history in the cotton industry, AgLend believed the client deserved the best agribusiness rate in the market. This prompted a search for a new and better credit provider.

Through AgLend, the client successfully eased his debt burden by refinancing all of his farm business loans with a more farmer-friendly lender.


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