AWB has launched a new finance loan option, Fastrak Finance, allowing farmers to leverage off their expected wheat harvest to fund their crop inputs.
Fastrak Finance provides easy access to working capital for wheat growers, through which they can borrow up to 35% of the anticipated value of their average wheat crop.
AWB General Manager, Financial Services, Marcus Kennedy, said the new product provided convenient and fast access to funds for farm inputs, and built on new opportunities now available to farmers as a result of the newly integrated AWB and Landmark organisations.
“Whether for fertiliser, seeds, chemicals, fuel or even labour costs, Fastrak Finance is the answer to growers’ working capital requirements,” Mr Kennedy said.
“Fastrak Finance is available to all registered AWB wheat growers or Landmark clients willing to deliver sufficient wheat to AWB.
“Growers can have immediate access to funds for their crop planting and management, and once the crop is harvested, they simply deliver the required tonnage to AWB and the proceeds are automatically applied to repay the loan,” Mr Kennedy said.
Capitalising on opportunities stemming from the integration of both organisations, the product offers a highly competitive interest rate, with an easy application process, minimal paperwork, a quick approval process and no account-keeping fees.
Mr Kennedy said the product was part of AWB’s aim to offer clients a one-stop-shop for their on-farm finance.
“This is part of the range of new financial initiatives we intend to offer as a result of the integration of the AWB and Landmark businesses,” Mr Kennedy said.
“With a competitive range of finance products such as Fastrak Finance, backed by a regional office presence of more than 430 outlets around Australia including a network of more than 70 dedicated local Rural Finance Managers we can offer growers a winning package,” Mr Kennedy said.
For more information, growers should contact their local Landmark outlet or their Landmark Rural Finance Manager.