Wool cash advances - Elders Rural Services

Release the equity in your upcoming wool clip now


Elders has a long history of working with wool growers. We understand you often hold a large amount of equity in your wool clip for periods of time.

To provide you with the financial flexibility you need to manage your on-and off-farm expenses, Elders brings you Wool cash advances.

Through our WoolPlus and Shearing Advance products, you can access cash advances of $500/bale or up to 50 per cent of expected wool proceeds up to six months prior to the wool sale when you consign your wool to Elders.


Frequently asked questions

Up to a maximum of six months prior to estimated shearing date with WoolPlus. Shearing Advance has no term.

Interest on WoolPlus will be charged at a rate of 12 per cent, per annum, from the date the advance amount is paid to the applicant until the advance amount and all accrued interest is repaid to Elders.

Interest on Shearing Advance varies from state to state. Please consult your  District Wool Manager or local Elders branch for details.

There are no account fees on Elders WoolPlus or Shearing Advance facilities.

Terms and conditions for Elders Shearing Advance vary from state to state. Please contact your local district wool manager or branch to obtain a copy of the full terms and conditions.

WoolPlus terms and conditions

The Applicant applies to receive an advance of funds using the wool describe in the Application Form as security (a WoolPlus Facility) from Elders Rural Services Australia Limited (Elders). Elders is prepared to assess that application, and if approved, to provide the Applicant with the Advance Amount requested on the Application Form on the terms and conditions set out below (Terms).

1. The Applicant must immediately on completion of shearing the wool subject to the WoolPlus Facility (the Wool Clip) consign to Elders at the wool centre indicated on the Application Form.

  1. 2. The Applicant must immediately notify Elders when shearing of the Wool Clip occurs.

3. The Applicant acknowledges and agrees that Elders may deduct the sum of the Advance Amount and all interest accrued thereon from the first available proceeds of the sale(s) of the Wool Clip.

4. Interest will be charged at a rate of 12% per annum from the date the Advance Amount is paid to the Applicant until the Advance Amount and all accrued interest is repaid to Elders.

5. Elders may set off against any monies that Elders owes to the Applicant any monies that the Applicant owes to Elders.

6. These Terms form a security agreement for the purposes of the Personal Property Securities Act 2009 (Cth) (PPSA). The Applicant must do such things as Elders may require from time to time to ensure that any security interest of Elders is perfected under the PPSA for whatever period that Elders, in its sole discretion, determines. The Applicant must reimburse and indemnify Elders for all expenses incurred by Elders in registering its security interest on the PPSA register.

7. The Applicant must keep Elders fully informed of all relevant information regarding the Applicant, including providing not less than 14 days’ notice in writing of any proposed change in name or contact details. The Applicant must immediately notify Elders of any material changes in the Applicant’s business activities.

8. Nothing in sections 125, 132(3)(d), 132(4), 135, 142 and 143 of the PPSA and Part 4.3 (other than Division 6 of Part 4.3) of the PPSA shall apply to this agreement, or the security under this agreement. To the extent permitted by the PPSA, the Applicant waives its rights in respect of this agreement, or the security under this agreement, to receive any notice or statement under the following sections of the PPSA: 95 (notice of removal of an accession); 118 notice of decision to enforce security interest under land law); 121(4) (enforcement of liquid assets – notice to grantor); 123 (notice of seizure of collateral); 130 (notice of disposal of collateral); 132(3)(d) (statement of account following a disposal showing the amounts paid to other secured parties); 132(4) (statement of account if there is no disposal); 135 (notice of retention of collateral); 157 (notice in relation to registration events); all sections in Part 4.3 (other than those in Division 6 of Part 4.3).

9. Elders and the Applicant must not disclose information of the kind referred to in section 275(1) of the PPSA (except where required under section 275(7) of the PPSA) and must not authorize the disclosure of such information at any time. Elders may use any personal information of the Applicant to register and enforce any security interest of Elders under the PPSA.

10. In these Terms, an “event of default” occurs when: (a) the Applicant fails to consign wool as required by these Terms; (b) the Applicant breaches any other provision of these Terms; (c) the Applicant becomes bankrupt, insolvent (within the meaning of the Corporations Act 2001 (Cth)) or under administration, or if any step is taken to instigate any such event; or (d) distress, attachment or other execution is levied or enforced over any of the Applicant’s property.

11. If an event of default occurs: (a) all monies due (actually or contingently) by the Applicant become immediately due and payable; (b) interest (at Elders’ prevailing rate at that time) will be charged (calculated on a daily basis and debited monthly in arrears to the account) on the overdue amount from and including the date of the relevant transaction to but excluding the date of payment; (c) the Applicant must on demand pay to Elders all costs and expenses incurred by it as a result of the event of default, including all legal costs on a full indemnity basis and fees or commissions payable by Elders to any collections agency; and (d) the Applicant must on demand grant to Elders any mortgage or other security over any of the Applicant’s property real or personal which Elders requires and such security shall be in a form acceptable to Elders.

12. Elders does not exclude or limit the application of any provision of any applicable legislation or other regulation (including the Competition and Consumer Act 2010 (Cth)) where to do so would contravene that legislation or regulation or cause any part of these Terms to be void. Nothing in these Terms is to be interpreted as doing so.

13. A certificate signed by an employee of Elders stating an amount owing to Elders at a particular date, or as to any other matter or thing, is conclusive evidence against the Applicant unless proved incorrect.

14. These terms are governed by the laws of South Australia, and any court within the Commonwealth of Australia in which Elders commences proceedings has non-exclusive jurisdiction to entertain any claims Elders or the Applicant may have against each other in connection with the provision of goods or services in accordance with these Terms.

15. If the Applicant is trustee of any trust, the Applicant is liable to Elders in the Applicant’s capacity as trustee of that trust (and personally) and the Applicant warrants that it is entitled to be indemnified out of the assets of that trust in connection with any liability it has to Elders.

16. If any provision of these Terms is found to be invalid or unenforceable (whether in respect of a party or generally), it will be severed from these Terms and the Terms will otherwise continue in force.

17. A party’s failure or delay to exercise a power or right is not a waiver of that right, and the exercise of a power or right does not preclude the future exercise of that or any other power or right. A waiver of a power or right must be in writing and signed by the party giving the waiver.

18. Information collected in connection with this application will be handled in accordance with Elders Limited’s Privacy Policy (Privacy Policy). The Privacy Policy explains how Elders, its wholly-owned subsidiaries and certain other entities will comply with the Australian Privacy Principles set out in Schedule 1 of the Privacy Act 1988 (Cth) and the purposes for which Elders may use the Applicant’s personal information.


How do I apply?

If your business meets the criteria, simply fill in the WoolPlus application form. Due to state differences in the Shearing Advance terms please contact your local Elders District Wool Manager (DWM) or branch.

Once approved, the funds will be deposited in your nominated bank account.

Repayment of principal and interest automatically occurs from your wool sale proceeds.

Need to know more?

Call us on 1300 618 367, email, or fill in the form below and one of our Agri Finance Managers will call you.

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