- Part of:
- Farming and rural
Over £292 million paid out.
The majority of farmers and crofters are receiving up to 90% of their CAP basic payment support loan earlier than previously anticipated.
Loan payments were scheduled in the first week of November. However, more than 12,300 farmers and crofters are now receiving payments worth over £292 million - earlier than ever before.
Rural Economy Secretary Fergus Ewing said:
“In September I committed to making loan payments in the first week of November. I can now confirm we have paid more than 10,600 farmers and crofters around £254 million, while a further 1,700 are receiving some £38 million in the coming days.
“This means that by the 1 November, we will have paid more than 12,300 farmers and crofters over £292 million - £46 million more than last year to 360 more businesses.
“These payments have therefore been made earlier than previously announced and quicker than ever before, showing my absolute determination to support and provide security to the rural economy.”
Although the deadline for apply for a loan has passed, farmers and crofters can still apply for an interest free loan. Farmers and crofters who have yet to receive a loan offer should expect to receive one in the coming weeks.