Stevethemeat
Member
Has any one any experience of peer to peer lending on a large farm purchase in the region of £1 mill or the use of outside investors that may be interested in such an opportunity
I would have thought that a bank would give better rates, unless you are looking to raise angora goats and use the wool for making coats for wild rabbits
Sorry to be frivolous but have seen a few bids and some raise serious capital for some very dubious causes
I think manylivestock farmers would be interested to hear thisThe problem is I was thinking of producing meat from animals for humans to actually eat in a slick profitable way so it’s not a normal type of a project and many will tell me it’s a crazy thing to even think about [emoji23]
Possibly 50% of a forced 90 day sale valuation on an established business.It will be at least 6% interest only,plus 1% monthly charges.Facility fee at the start,deducted from the advance of at least 5% of the loan,plus you pay for all their solicitors fees and your own.Maximum 5 year term.Extra penalties for paying early before year 3 and 4.If you cant get back to a high street bank by year 5,you are potentially in trouble........they will want their money back.Some solicitor based "securities" firms will do it at 12%-15% interest only.............they very often end up taking the "security" off you in the end. There is a specific long running thread on this Forum all about it.Has any one any experience of peer to peer lending on a large farm purchase in the region of £1 mill or the use of outside investors that may be interested in such an opportunity
Possibly 50% of a forced 90 day sale valuation on an established business.It will be at least 6% interest only,plus 1% monthly charges.Facility fee at the start,deducted from the advance of at least 5% of the loan,plus you pay for all their solicitors fees and your own.Maximum 5 year term.Extra penalties for paying early before year 3 and 4.If you cant get back to a high street bank by year 5,you are potentially in trouble........they will want their money back.Some solicitor based "securities" firms will do it at 12%-15% interest only.............they very often end up taking the "security" off you in the end. There is a specific long running thread on this Forum all about it.
https://landbay.co.uk/
Possibly the best known one? No experience, but I have a mate who enthuses about them as a way of investing his money.
The problem is I was thinking of producing meat from animals for humans to actually eat in a slick profitable way so it’s not a normal type of a project and many will tell me it’s a crazy thing to even think about [emoji23]