STONEGATE has announced a new pullet finance facility for producers within its supply base.
The egg packer has developed the new products with ag-bank Oxbury, with two packages available to farmers. Both have a fixed interest rate of 8%.
- Stonegate 13 Pullet Finance Scheme – A 13-month facility with interest only repayments for the first 3 months, followed by 10 capital and interest repayments. This term is tailored for a standard production cycle of 16 to 76 weeks.
- Stonegate 15 Pullet Finance Scheme – A 15-month facility with interest only repayments for the first 3 months, followed by 12 capital and interest repayments. This term is tailored to the longer white bird production cycle of 16 – 100 weeks.
The first three months of a hen cycle can challenge a farm’s cash flow as birds are not yet in full lay, but feed, staff, and other costs mount.
Stonegate said the two facilities would be flexible, and farmers can apply for a minimum of £25,001 up to the whole or part cost of the pullet invoice, with early repayments an option.
Adrian Gott, CEO of Stonegate, said: “The pressure of cash flow in a business can be hugely stressful and I am delighted that Stonegate is able to support our farmers tackle these potentially difficult periods with the launch of Stonegate Pullet Finance Scheme.
“Ultimately, our aim is to create a supportive environment for our farmers where they and their businesses can thrive.
“I am also very pleased how Stonegate is working in partnership and in collaboration with Oxbury on such an important area of the supply chain.”