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French Farmer Receives Financial Relief: Banks Ordered to Offer Loans at Preferential Rates

For seven years, Fabien Dajean, goat breeder and general secretary of the Young Farmers of Tarn-et-Garonne, had a project: modernize his farm, make cheeses and direct sales. Every year he asked his bank for a loan and every year he was refused. His case is not strong enough. Fabien knows it, his file scares the banks, because he has no or very little cash flow. He already has a loan of 80,000 euros to repay, add to that payments and subsidies which too often arrive late. Could the banks do better, be more accommodating? The Minister of the Economy is convinced of this. After an exchange in Bercy with the banking sector, this Tuesday, February 27, this is what he obtained: for farms in great difficulty, there is the possibility of deferring loan payments for one year, then rescheduling the debt over three years. And if it is necessary to replenish the coffers, banks are ordered to offer loans at preferential rates between zero and 2.5%, compared to 5% today. More details in the video at the top of this article. TF1 | Report T. Jarrion, P. Mislanghe, A. Ponsar

2024-02-27 22:14:53
#Farmers #payment #facilities #preferential #loans #p.m #newspaper #TF1

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