New loan scheme announced for farmers

editorial image

Details have been unveiled of a nationally-funded loan scheme for CAP payments to provide cash flow and stimulus into Scotland’s rural areas.

Rural Affairs Secretary Fergus Ewing said the new loan scheme will provide certainty for farmers and crofters this winter. It will seek to inject up to £300 million into the rural economy, safeguarding jobs and local agricultural businesses.

Farmers and crofters will be able to apply for a loan of 80% of their total entitlement, up to a maximum of €150,000 and receive their loan payments in November.

Announcing the new scheme to MSPs on Tuesday, Mr Ewing said: “I am confident that we are putting the 2016 payments on a better footing.”