Release the equity in your upcoming wool clip now.
With the current strong wool prices, we understand that wool growers are holding a large amount of equity in their wool clip in the months leading up to shearing.
To provide you with the financial flexibility you need to manage your on-and off-farm expenses, Elders brings you the WoolPlus advance facility. This facility provides eligible growers with access to up to 50% of expected wool proceeds in the six (6) months prior to wool sale.
Easy application process.
If your business meets the criteria, simply fill in the application form available from your local Elders District Wool Manager (DWM) and complete the NLIS third party authorisation form.
Once approved, the funds will be deposited in your nominated bank account. Your DWM will need to be notified of any material changes in your stock or business activity during the term of the loan. Repayment of principal and interest automatically occurs from your wool sale proceeds.
Financial Statements are to be provided with the application and will be assessed by the Elders Credit team.
Where confidentiality is an issue, financial information may be provided separately and directly to the Elders Credit Team.
Please note that a WoolPlus facility cannot be run in conjunction with a Shear Cents or Shearing Advance facility.
Up to a maximum of six (6) months prior to estimated shearing date.
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.
There are no account fees on WoolPlus facilities.
Elders requires applicants provide third party access to their NLIS account to authorise us to track any mob based movements on relevant Property Identification Code numbers.
Register to find out more
Contact your local District Wool Manager to apply now.