Copyright farmersweekly
Reading Time: < 1 minute Aspiring dairy farmers can apply for reduced deposit requirements and mentoring for two seasons through the BNZ First Farm proposition. The offer covers the first step towards farm ownership or buying cows for sharemilking, said BNZ general manager for agribusiness and corporate banking, Dave Handley. Every approved customer will be paired with an experienced farmer mentor who has been through the highs and lows of herd or farm ownership and knows what it takes to make a farming business succeed. “One-on-one support from a proven operator in key areas such as business planning, budgeting, cashflow, governance and people decisions will make a real difference from the beginning. “Industry surveys show only one-third of New Zealand farmers have a formal succession plan. “We know there are opportunities to make the next step into ownership more straightforward for the next generation while ensuring valuable farming knowledge isn’t lost. “First Farm does both through more accessible bank funding and structured mentorship which connects experienced farmers with those striving to purchase their first farm or herd, making the transition between generations both more attainable and sustainable,” Handley said. Deposit requirements and prices are assessed on a case-by-case basis. Eligibility, lending criteria, terms and conditions and fees apply. While initially focused on dairy, BNZ plans to offer similar initiatives to other agricultural industries in the future.
