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Agricultural Loans - 30 June 2010 Report

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A decision made on 10 November 2010 regarding the Agricultural Loans Report (30 June 2010)

Decision Reference: MD-E-2010-0180

 

Decision Summary

Title :

 

Agricultural Loans – 30 June 2010 Report

Date of Decision Summary:

 

Decision Summary Author:

Senior Administrator

Decision Summary:

Public or Exempt?

(If Exempt state clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title:

Agricultural Loans – 30 June 2010 Report

Date of Written

Report:

7 July 2010

Written Report  Author:

Senior Administrator

Written Report :

Public or Exempt?

(If Exempt State clauses from Code of Practice booklet)

Public

 

Subject: Agricultural Loans: to inform the Economic Development Assistant Minister for Rural Economy on the current situation with regard to the loans.

Decision(s): The Assistant Minister is invited to note the situation of the Agricultural Loans.

 

Reason(s) for decision: Required six monthly review

 

Resource Implications: None

 

Action required: Director of Environmental Management and Rural Economy to send copies to the Finance Director and the Treasury and Resources Minister for noting.

 

Signature: 

 

Position:

Assistant Minister

Date Signed:

 

Date of Decision:

 

Agricultural Loans - 30 June 2010 Report

ECONOMIC DEVELOPMENT DEPARTMENT 

 

Date:   7 July 2010

 

AGRICULTURAL LOANS – 30 June 2010 Report

 

INTRODUCTION

 

This report is to inform the Economic Development Assistant Minister for Rural Economy on the current situation with regard to Agricultural Loans.

 

Analysis of loans in arrears as at 30 June 2010:

 

Detail

30/06/2009

30/06/2010

No. of borrowers

           7

7

No. of loans

10

9

Amount of arrears

£104,696

£91,273

 

This shows an improvement on the same time last year, when there were 7 borrowers accounting for 10 loans in total arrears of £104,696.  

 

CONCLUSIONS AND RECOMMENDATIONS

 

The position with regard to the arrears has improved in the last year. We are continuing to reduce the small number of borrowers who have long outstanding arrears, through continuing a dialogue and renegotiating the pay back period to enable more affordable levels of payment, making more use of standing order mandates.

 

The Assistant Minister is invited to note the position.

 

Written by:     Senior Administrator

 

Approved by: Director

                      Environmental Management and Rural Economy

 

 

MD – E-2010-0180

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