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<DIV><FONT color=#000000 size=2>Thank you to the responses to my mail about the
difficult predicament we face trying to lend money to purchase our first
farm.</FONT></DIV>
<DIV><FONT color=#000000 size=2>For the benefit of those interested, I have just
been to Farmworld at Lardner Park</FONT></DIV>
<DIV><FONT color=#000000 size=2>and checked out some of the financial
options.</FONT></DIV>
<DIV><FONT color=#000000 size=2>PIBA= no stock mortgage avail & require 65%
equity. At least they tell you they basically look after blue chip
clients.</FONT></DIV>
<DIV><FONT color=#000000 size=2>Wesfarmers= stock mortgage avail, but only lend
30-40% of land value and require minimum of 50% price of purchase.</FONT></DIV>
<DIV><FONT color=#000000 size=2>Westpac, We are giving them another
try!!!</FONT></DIV>
<DIV><FONT color=#000000 size=2>CBA= stock mortgage but will only lend 50%
purchase price & need 50% equity minimum even though we have friends who got
a loan with 34% equity???</FONT></DIV>
<DIV><FONT size=2>NAB, Similar to CBA so we have'nt bothered.</FONT></DIV>
<DIV><FONT size=2>Elders = Our best hope, we were told we were close, we have
about 48% equity but did not fit their criteria for security despite adequate
cash servicing ability. Approved at 3 levels then pipped at the post in
Adelaide.</FONT></DIV>
<DIV><FONT size=2>3 solicitors contacted, do not do stock mortgage and that I'm
afraid is what most of our "assets" consist of.</FONT></DIV>
<DIV><FONT size=2>So thats the state of play at the moment.</FONT></DIV>
<DIV><FONT size=2>Oh I forgot to mention Rural Finance, but then you all know
why!!! They definitely do not ring true to their brochures for financing young
people.</FONT></DIV>
<DIV><FONT size=2>What we need desperately is an institution that lends on a
cash flow basis to farmers with suitable experience and skills.</FONT></DIV>
<DIV><FONT size=2>I'm not saying they should hand out money to un viable
situations but there has to be a starting point for everyone otherwise no one
gets a chance.</FONT></DIV>
<DIV><FONT size=2>Another sticking point is off farm income, which for us is
nursing. Mention that & they think its great but then when they analyse the
situation they tell you that the enterprise will rely too heavily on off farm
income, you can't win when you try to earn extra money to lighten the load and
it goes against you.</FONT></DIV>
<DIV><FONT size=2>I will write to the minister for Agriculture and to the
VFF/UDV as I enjoy talking to you guys but we need to let the big guns know what
is going on</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>So we are assessing our options( quite rapidly). One option
which we have explored in the past is leasing a farm but lease farms seem quite
rare, so if anyone knows of a 150 cow farm to lease in Northern or Maffra
Irrigation regions please let me know. Thanks for listening and I hope the info
is helpful.</FONT></DIV>
<DIV><FONT size=2>Regards Gerald, Sonya & Joshua
Hanratty</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Mon Mar 29 08:57:49 1999
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Date: Sun, 28 Mar 1999 20:45:35 +0000
From: Jennifer McMillan <jenmcm@netspace.net.au>
Subject: Weekly Update
To: DairEmail <dairemail@rural.net.au>
Cc: gippsdairy-l@unimelb.edu.au
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Status: U
Weekly Update, Friday March 26, 1999
VFF EFFORTS HELP PRODUCERS GAIN ACCESS TO NEW TOOL FOR PEST BIRD CONTROL:
Victorian producers now have the opportunity to use chemicals as an
additional tool in attempts to reduce the menace of cockatoo, corellas and
galahs, with the Victorian Government this week amending regulations under
the Wildlife Act 1975 to allow their use in the control of these pests. The
move has been welcomed by the Victorian Farmers Federation, who made
representations to the State Government last year highlighting the plight of
producers battling to curb the growing damages bill caused by cockatoos,
corellas and galahs. For more information contact: Ron Hards, 5028 3240, 015
815 198; Bill Whitehead, 9207 5550, 018 550 533
CONFERENCE FOR YOUNG DAIRYFARMERS: The United Dairyfarmers of Victoria (UDV)
has put its weight behind the first Victorian DairyFest conference
specifically catering for young dairyfarmers. The DairyFest conference
'Young farmers - Milking their Future' will be held at the Performing Arts
Centre in Warrnambool on April 22 and 23 and is targeted at dairyfarming men
and women under 35 years of age. Registration will be restricted to 100
participants from across Victoria and the UDV is encouraging partners to
attend the conference together. To guarantee involvement it is highly
recommended dairyfarmers do not delay in registering. For a copy of the
program and registration details contact the UDV, 9207 5600; Laurie
Phillips, 019 358 766.
FARMER CONCERNS OVER GOLD MINING: Chairman of the Mining Sub-committee Alex
Arbuthnot met with farmers near Goornong last week to discuss their concerns
about exploration and mining licences on farmland in the area. More
information: Alex Arbuthnot 0419 968 168; Fiona Lawson 9207 5525.
PEST ANIMAL BAITS: The VFF Land Management Committee is pleased that changes
to requirements for the laying of pest baits have been made by DNRE. The
changes come after almost two years of VFF lobbying for simplification of
bait laying procedures and forms for Foxoff and other 1080 baits. "The
simplification of the forms in particular will encourage farmers to control
foxes, rabbits and wild dogs," said Ian Lobban, Chairman, Land Management
Committee. More information: Ian Lobban (02) 6026 7255; Fiona Lawson 9207
5525.
RALPH REVIEW OF BUSINESS TAXATION: The Review of Business Taxation has been
holding public seminars across Australia. VFF representatives Geoff Crick
and Chris James attended the Melbourne seminar on 24 March 1999 and put the
VFF's concerns to John Ralph and his fellow committee members. For further
information contact: Chris James, 9207 5526.
WATERWAY DETERMINATION GUIDELINES: VFF representatives Doug Chant, Chris
James, Hank Sanders and Lindsay Jarvis attended a meeting at the Department
of Natural Resources and Environment on 23 March 1999 aimed at achieving
consensus on Waterway Determination Guidelines and other issues arising out
of the Baxter Report. Other attendees included representatives of Rural
Water Authorities and Catchment Management Authorities. For further
information contact: Chris James, 9207 5526.
Jennifer McMillan
RMB 4670
Denison 3858
Ph/fax +61 3 51 486 365
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