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Loan scheme launched for Scotland's farmers and crofters - Perthshire Chamber of Commerce

Loan scheme launched for Scotland's farmers and crofters

The Scottish government has launched a loan scheme aimed at helping crofters and farmers recover from the impact of Brexit and the Covid-19 pandemic.

The 2021 National Basic Payment Support Scheme will maintain vital cash flow for farm and croft businesses by injecting up to £337 million into the rural economy. The scheme will give farmers and crofters access to vital financial support up to three months earlier than the EU CAP payment period, helping them continue to operate.

The loan scheme provides Scottish farmers and crofters access of up to 95% of their 2021 CAP BPS and Greening payment, restricted to the scheme maximum of £133,638. Loan offer letters will be sent to eligible farmers and crofters this week, with the first payments due in September.

Rural Affairs Secretary Mairi Gougeon said:

“Our absolute priority is ensuring farmers and crofters receive their payments and this scheme will ensure that farmers can access this support at the earliest ever point.

“There are a number of challenges arising from Brexit including around food supplies. We are continuing to support our farmers and crofters so we that we can maintain domestic food security and help secure local supply chains. Farmers and crofters have worked incredibly hard to keep us all supplied throughout the challenges brought by Brexit and the COVID pandemic and it is essential that they have the cash flow they need to continue operating.

“For the first time they will be able to accept their loan online, this will enable us to process the loan payments even faster than before.

“I would encourage anyone who would like to accept their loan offer to do so as soon as possible to allow us to process these important payments as quickly as possible.”

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