Westpac Banking Corporation

Business loans

Westpac Produce Advance - Grains facility

Essentials

  • Access the income from your grain harvest straight away
  • Complete flexibility to store your grain or sell it to any number of approved pools and receive up to 70% of its estimated value straight away1
  • The loan can then be repaid directly by the pool, or if storing it yourself, as proceeds become available from later cash sales
  • A single set-up, consolidated finance option avoiding multiple establishment fees, set-up costs and paperwork when selling to different grain pools
  • No establishment fee
  • Security required is your rural property, and if borrowing in a company name, a director's guarantee.

Find your local Westpac Grains Specialist

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Apply for Westpac Produce Advance - Grains facility now

Did you know?

In 2011, Money Magazine has awarded Westpac the prestigious 'Business Bank of the Year" award for the fourth year in a row.

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Things you should know
  • 1.Subject to available equity in held security and banks normal lending criteria.
  • 2.Loans established for business conducted in NSW may attract Government duties.

Features

Flexibility for your continuous sale strategies

  • seek short term finance up to the value of your harvested grain (secured by rural land already held) that is stored on the farm or delivered to a Pool provider

A single facility that can be used with a range of grain producers

  • save time and reduce paperwork
  • so long as the grain provider you choose is approved by Westpac, you can seek short term finance for the value of your harvested grain

Choose the size of your loan 

  • Produce Advance provides access up to 70% of the estimated pool return, (GST inclusive), less estimated costs.1
  • minimum loan amount $250,000
  • access available cash now to pay bills or establish next season’s crops

Easy access, funds available within 48 hours

  • Funds can be accessed via Business Online Banking, your Westpac Relationship Manager or through one of our 639 retail outlets across Australia

Flexible repayments

  • Once the facility is set up and operational, it requires minimal ongoing management
  • You instruct the purchaser of the grain to direct the pool payments to your Westpac Produce Advance loan account
  • Once payment has been received the limit of the facility is reduced

Interest does not compound on this facility

  • Interest accrued is redirected to your nominated Westpac working account, meaning additional funds are accessible.

If you do not already have a Westpac Business account, you will need to set up a Westpac Business One account prior to be eligible for these advance products.

Find your local Westpac Grains Specialist

Things you should know
  • 1.Subject to available equity in held security and banks normal lending criteria.
  • 2.Loans established for business conducted in NSW may attract Government duties.

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