BSP payment Loans

Still Farming

Member
Mixed Farmer
Location
South Wales UK
Anyone applied or applying upto 70% advance on your claim.
Apparently most of Scotland applied for it.
Deadline end Nov.?
Suppose ok if you know your claim is delayed ? But how do you know it may be delayed?
Horse before cart maybe?
 

Johngee

Member
Livestock Farmer
Location
Llandysul
Had an email yesterday saying that my claim won't be ready for payment in early December and recommended I apply for the loan.
 

neilo

Member
Mixed Farmer
Location
Montgomeryshire
All seems ok but if you knew your getting paid in December then you don't need the loan advance maybe but if your getting paid late or next year sometime you may need to apply for it .
When or how will applicants know what to do ?

You apply ‘just in case’ imo. If you are paid in early December, then you won’t need/get the loan. If it’s delayed for any reason, i’d Guess most would be glad of a chunk of it arriving as an interest free loan.

It takes a couple of minutes to complete the online application, costs nothing and you have nothing to lose. Why would anyone not tick the boxes required?:scratchhead:
 

Still Farming

Member
Mixed Farmer
Location
South Wales UK
You apply ‘just in case’ imo. If you are paid in early December, then you won’t need/get the loan. If it’s delayed for any reason, i’d Guess most would be glad of a chunk of it arriving as an interest free loan.

It takes a couple of minutes to complete the online application, costs nothing and you have nothing to lose. Why would anyone not tick the boxes required?:scratchhead:
I know what you mean.
It's 3.4 % interest think not free but yet another layer of form filling .
No brainer really but just to make people aware that receive sfp .
 

neilo

Member
Mixed Farmer
Location
Montgomeryshire
I know what you mean.
It's 3.4 % interest think not free but yet another layer of form filling .
No brainer really but just to make people aware that receive sfp .

IIRC There's only interest if the %age they pay you early is more than the final amount due, which is going to be unlikely. You only pay interest, at less than any OD rate I've seen, on that overpaid amount, until you repay it.
 

Still Farming

Member
Mixed Farmer
Location
South Wales UK
Screenshot_20181107-083828_Drive.jpg
or they pay you.

IIRC There's only interest if the %age they pay you early is more than the final amount due, which is going to be unlikely. You only pay interest, at less than any OD rate I've seen, on that overpaid amount, until you repay it.
 

Still Farming

Member
Mixed Farmer
Location
South Wales UK
Looks like Loan statements going out but NO indication if Total or The 70% advancd?
As No BPS SFP total amounts statments issued as still in progress , there is no way of knowing it there?
Also with other claims etc.there is a Progress bar.
Why is there NO progress bar with the BSP Loan application ?
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 79 42.0%
  • Up to 25%

    Votes: 66 35.1%
  • 25-50%

    Votes: 30 16.0%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 7 3.7%

Red Tractor drops launch of green farming scheme amid anger from farmers

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  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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