Farmers and crofters – New subsidy loan scheme deadline28th September 2016 | Posted in: Agricultural, Company News
In May, the Scottish Government came under severe criticism from the public spending watchdog, Audit Scotland, over the excessive delays in paying farmers their 2015 subsidy payments.
Rural Affairs Secretary, Fergus Ewing has acknowledged that the IT system responsible for settling the subsidy payments is still not fully operational. Consequently farmers can again expect delays in receiving their 2016 subsidy payment.
With payment delays imminent, Mr Ewing has confirmed that farmers and crofters can apply for a loan of 80% of their subsidy entitlement. Letters will be issued by the end of this month inviting farmers to apply.
The deadline for applying has been set for 12 October 2016 with loan payments expected to be made in November 2016.
Provided loan recipients adhere to the terms and conditions of the loan, these loans will be interest free.
As an alternative to applying for the government loan scheme, it would appear that banks are taking proactive measures in terms of offering loans to farmers.
If you would like to discuss any aspect of this please contact Angie Harvey on 0131 317 7377 or firstname.lastname@example.org and she will ensure you are connected with the most relevant and available member of the team.
Further information on loan schemes can be obtained by clicking on the following link:-