What payments are required for Breeder Finance?
If any livestock are sold, proceeds are to be sent directly to StockCo at the time of sale to repay the outstanding finance (purchase price plus finance costs) on these livestock. In addition to this a payment of 25% – 33% of the remaining principle, plus accrued finance costs, is required within each 12 month period in order to extend the trade for a further 12 months.
* We recommend that where a customer indicates from the outset that they wish to complete a Stock Advance against the progeny to pay the principal, that they discuss this with their bank from the outset.
