Long-time farming family ditched old lender for not supporting expansion plan, increased broadacre farm area via new $4 M credit package

CHALLENGE:

A local farming family was having problems pitching an expansion plan to their lender.

OUTCOME:

AgLend successfully negotiated a broadacre farm loan and livestock financing worth $4 million with a new lender to support the family’s planned expansion.

A local family with a long history of farming excellence was experiencing difficulties with their lender.

The family’s large-scale irrigated cropping farm in the Darling Downs produced dryland sorghum, soybeans, mung beans, lucerne and dryland corn. Seeing opportunities in the market, the family planned to diversify operations, increase their land holdings, and engage in cattle trading as well.

However, the family felt their lender showed little support for the new phase of growth they envisioned. So they approached AgLend Finance to solve the complex challenge.    

Staying true to its heritage of assessing borrower situations from every angle, AgLend Finance visited the family on farm numerous times to develop a winning strategy.

The execution was perfect, with the family successfully acquiring a total of $4M to refinance their existing loan as well as to jumpstart their expansion plan. The loan package, facilitated by AgLend with a new lender, includes broadacre farm financing to purchase a neighbouring agricultural land as well as livestock finance to enable the family’s entry into the cattle trading business.  


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