Get paid now or get paid later: AWB Harvest Pool provides new payment options for growers.
- New industry low Harvest Loan rate of 2.95%
- Deferred distribution payments available with first payment in July 2019
Want to get paid now?
AWB has reduced its variable loan interest rate from 3.5% to 2.95% offering a very competitive way to access funds. Harvest loans are popular with growers who want the majority of their cash flow upfront upon delivery, yet don’t want to lock down all their sales at harvest. And now AWB loans are cheaper than ever.
If you deliver to the Harvest Pool you receive a loan of 80% of the Nominated Estimated Pool Return less costs, within 5 business days of delivery. The loan is then automatically repaid via pool distribution payments as the grain gets sold over the year.
If you prefer upfront payments and less paperwork, you could also choose the Advance Payment option. Upfront payments work in much the same way as loans, but there is a fixed fee rather than monthly interest and there are no monthly loan statements. The choice is yours.
Or get paid later
With the wheat crop now coming off and prices at five year highs there has been a lot of inquiry around our Deferred Distribution option with the AWB Harvest Pool. Growers who deliver to our Harvest Pool and choose the Deferred Distribution option receive their first payment in July 2019.
As farm businesses are different, pool payment options may have tax consequences for your business so it’s important that you seek professional tax advice in relation to your particular circumstances.
Our field team are based around regional Australia and can provide options that may best suit your business. Our AWB team are able to provide more information and help with your choices this harvest. You can call them on 1800 447 246 or request a call back by clicking here
Fore more information contact AWB Grower Service Centre - 1800 447 246
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