Scottish farmer’s “mind at ease” after Royal Bank of Scotland’s BPS Bridging Loan

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A Scottish farmer is looking forward to a relaxed December after taking on the Royal Bank of Scotland’s BPS Bridging Loan.

Neale MCQuistin of High Airyolland in the Southern Uplands of Scotland, took on the bank’s fee free bridging loan amongst fears that the annual support payments to farmers could be delayed by up to six months.

The Royal Bank of Scotland announced the creation of a fee free bridging loan in June, aimed at filling the gap for farming customers who are expecting to be hit by delays caused by issues in the application process.

Neale said: “My payment is usually around £45,000 a year and would arrive promptly in December, so the fact that the bank is able to loan a vast majority of that really put my mind at ease.

“For me, it’s all down to stress, and meeting our other commitments – we obviously don’t want to let down our suppliers, who have pressures and commitments of their own.

“It is approaching December and if we had still been left wondering whether we were going to get payment or, if it was going to be much later, it would have been very difficult. That worry has now been taken away”.

Neale, whose family farm has banked with RBS for three generations, over 70 years, worked with Agricultural Relationship Manager Campbell McCaig to secure the specialist support.

“Campbell has gone to great lengths to understand our business,” said Neale. “It’s refreshing to see – and certainly helps the working relationship. It was a pleasant surprise that the bank was doing something so proactive, pre-empting an issue and acting on it.

“It has meant that I can make business decisions on the farm according to the market, rather than being forced to make decisions and potentially sell stock in a depressed market.”

Campbell added: “It’s been great working with Neale over the past three years. We work hard to keep in constant contact and I was delighted to be able to support him in securing this bridging loan. We know that many farmers are dependent on this money and will be hit hard by any delays. So being able to offer a bridging loan aimed specifically to fill any gaps with BPS has been invaluable.”