A Look At Livestock Financier StockCo
StockCo Group is a specialized agricultural finance provider in Australia and New Zealand, offering short-term financing for livestock trading, finishing, and backgrounding purposes. They assist livestock producers in purchasing cattle and lamb for various purposes, including domestic and export sales.
What is StockCo?
StockCo Group is a niche provider of specialty agricultural finance in Australia and New Zealand. They were founded in New Zealand in 1995 and expanded to Australia in 2014. They provide short-term financing for cattle and lamb for trading, finishing, and backgrounding purposes. This includes purchases for sale to domestic or export processors, backgrounding on pasture for live export or sale to feedlots, and livestock for feed lotting or trading opportunities.
How does StockCo financing work?
The exact StockCo process varies from client to client. It depends on whether they intend to use livestock for finishing, backgrounding, or trading. In general, all methods have a form of quota, benchmark and deadlines that needs to be met.
Typically, a client applies to StockCo, submitting various documents that show they are a genuine livestock producer and are capable of repaying what is financed to them. After they are approved, the client can purchase a certain amount of livestock funded, sometimes entirely, through StockCo. How much they can buy is determined by documentation submitted in the application stage.
From here, different steps need to be followed based on how the livestock will be used. The processes for breeding and trading livestock are listed in more detail below.
Who is eligible for a StockCo loan?
StockCo has three main eligibility criteria which customers need to satisfy. Firstly, they must show that they have been a livestock producer for longer than three years. Secondly, they must own an existing livestock-producing property – though there can be other leasing or agistment arrangements in place. Thirdly, they must demonstrate their ability to pay the required annual Principal and Interest payments.
How Much Can I Get from a StockCo Loan?
StockCo has a preferred but flexible minimum limit of $250,000. If an application is reasonably suspected to grow over time, they will consider smaller loans.
Experiences with StockCo
If you are a current or former customer of StockCo and would like to discuss your experiences we are here to listen. You may also call us at 1300 433 533 or email us at enquiry@fdlegal.com.au. FD Legal is here to help. We are investigating potential claims involving StockCo Group Australia and would be pleased to hear from you about your experiences on an obligation-free and confidential basis.
