Interest Free Loans to Cover Late BPS Payments
Interest free government loans will now be available to all Welsh Farmers if their Basic Payment Scheme (BPS) payments are late.
Farmers who do not receive their BPS funds on 2 December – day 1 of the payments window – can receive loans under the BPS 2019 Support Scheme, which will be worth up to 90% of the expected claim value.
The support scheme will be available to all claimants who are not paid on day 1, but must be opted into, and farmers will need to apply for the loan payment.
Full details and an online application form are expected to be released by Rural Payment Wales in the autumn.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.