8 June 2001

AMC flexible loan is first for farming

A FLEXIBLE new loan from finance company AMC could help producers balance their repayments in line with cashflow fluctuations during the year.

AMC believes the loan is the first such product to be offered to farmers. It is operated in a similar way to the flexible mortgages now commonplace in the residential housing market.

When cashflow is limited, repayments can be reduced to as little as £5 a month. Conversely, when spare funds are available, extra payments can be made without penalty.

Loans will initially be for five years and interest rates will be negotiated case by case. &#42