Loans to offer vital cashflow boost in October

NFU Scotland is urging Scotland’s farmers and crofters to respond to the BPS and Greening Loan Scheme offers letters being issued by Scottish Government this week.  

The National Basic Payment Scheme Support Scheme (NBPSS) 2018/19 loan offer letters give applicants the opportunity, by opting in, to secure up to 90 percent of their anticipated basic support through a loan.

Offers are being made to more than 14,000 businesses with the potential to inject more than £249 million into the rural economy.  The response date is 28 September and SGRPID expect the first tranche of loan payments to be made in mid-October to those who apply before the deadline.

Policy Director for CAP Schemes and Post-Brexit Agricultural Policy, Jenny Brunton said: “While the response rate to previous loan letters has always been good, this is a reminder to all those who receive an offer to opt in and get their replies in ahead of the deadline if they wish to be considered for the first run of loan payments.

“This is proving to be a difficult and challenging 12 months for farmers and crofters and the reality is that a long, costly winter still lies ahead.  This loan scheme gives farmers and crofters the opportunity to opt-in for a loan that will go some significant way to easing the cashflow worries that are building on farms and crofts.”  

Notes to Editors

• More details on the 2018 loan scheme are available at: https://www.ruralpayments.org/publicsite/futures/topics/all-schemes/national-loan-schemes/loans-for-2017-18-payments/

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Contact Bob Carruth on 0131 472 4006