Barclays extends loan holiday

By FWi staff

BARCLAYS Bank has extended its “loan break” offer, allowing farmers and those running businesses affected by the foot-and-mouth outbreak to defer repayments until the end of August.

The original scheme, launched on 3 March, was set to run for three months to ease short-term cash flow problems triggered by the outbreak.

Participants can choose to extend the loan period or increase payments after August to make up for the break, says Barclays.

However, interest will accrue on the loan during the break period, and during any extension period.

Barclays is also tailoring additional support to individual customers, including additional credit, rescheduling of debt, and specialist support, including assistance for farmers looking to restock from overseas.

The bank has also announced a regeneration fund, donating 1m to help local communities hit by the outbreak.