FARMERS looking to invest in their business could access discounted borrowing rates from the Agricultural Mortgage Corporation (AMC plc).

AMC has negotiated access to a multi-million pound European Investment Bank (EIB) fund aimed at stimulating investment and job creation in smalland medium-sized businesses, including those in farming.

This means that loans for eligible projects can be discounted by 0.8 per cent below normal rates for ten years.

AMC agent Alistair Cochrane, of Strutt & Parker, in Morpeth, said it means loans for a wide range of farm and diversification projects such as building works, livestock housing and crop storage, farm shops and farm energy schemes can be heavily discounted.

He said: “At a time when interest rates are historically low this could represent a real opportunity to cost-effectively invest in the future of the farm.

“The previous scheme met with strong farmer demand in the area with many using it as an opportunity to develop projects that improve efficiency, productivity or help to manage costs.”

Mr Cochrane said farm energy schemes such as wind, solar or anaerobic digestion are likely to be eligible for the discount.

For details, contact Mr Cochrane on 01670-500870 or at alistair.cochrane@struttandparker.com.