Scotland government launches Agriculture loan scheme
Rural Economy Secretary Fergus Ewing launched a loan scheme to give farmers and crofters access to vital financial support during COVID-19 crisis. The National Basic Payment Support Scheme will inject up to £340 million into the rural economy.
The fund provides Scottish farmers and crofters access of up to 95% of their 2020 CAP BPS and Greening payment, restricted to the scheme maximum of £133,638. Loan offer letters will be sent to eligible farmers and crofters from the beginning of August, with the first payments due in September.
“Our farmers and crofters are vital to Scotland’s economy, putting food on our plates during this unprecedented crisis.” he said.