20 November 2007
Rabobank has announced changes to its Harvest Advantage Loan, expanding its harvest finance product to include a range of pool providers, in addition to AWB.
Rabobank rural state manager for Western Australia, Crawford Taylor says that the changing and dynamic nature of the wheat market in W.A has seen Rabobank adapt its Harvest Advantage Loan to improve flexibility in order to meet grower’s shifting needs.
“Rabobank thought that the logical response to the evolving market, which has seen multiple pool providers emerge, was to allow clients to choose from one or more pools for wheat delivered to the CBH storage network, within one Harvest Advantage loan,” Mr Taylor said. “This increases flexibility with no additional paperwork,” he added.
Steve Kelly, regional manager for the central and south-eastern wheat-belt says improvement to the product for the 2007/08 harvest demonstrates Rabobank’s capacity to lead the market.
“Harvest Advantage is now much more streamlined and provides a practical solution in a wheat market that has fragmented with multiple pool providers. There are also no assignment fees, no establishment fees, no on-going bank fees and no underwriting fees, making Harvest Advantage very attractive to existing clients,” Mr Kelly says.
In the northern agricultural region, regional manager Andrew Pitcher says Rabobank’s Harvest Advantage has proved very beneficial for Rabobank clients.
“Harvest Advantage allows clients to borrow up to 90 per cent of the EPR, exclusive of GST, less estimated costs and interest – making it a clear leader in the harvest finance market. There is also flexibility in the timing of drawdowns with on-line account management through Rabobank Internet Banking, allowing clients to drawdown funds at any time and view details of their account,” Mr Pitcher said.
Rabobank has nine locations across Western Australia - at Albany, Bunbury, Dalwallinu, Esperance, Geraldton, Merredin, Moora, Narrogin and Perth.
For more information on Harvest Advantage or any of Rabobank’s products, call your local branch on 1300 30 30 33.
Contact
For further information please contact Denise Shaw, Public Relations Manager (Tel: +61 2 8115 2744) or email on sydney.mediarelations@rabobank.com.