Fast decision making by Legacy Livestock enables stocking rate to be matched to carrying capacity delivering enhanced financial performance
Kate and Ian run a beef cattle business in the New England region of NSW. Their son Joe assists on farm and runs his own cattle on the family property. Kate and Ian were enjoying excellent seasonal conditions and approached their bank to secure additional funding to enable them to grow the numbers of trading livestock and increase returns from their grazing operation. They could see good buying opportunities due to dry conditions in other regions.
Kate and Ian enjoy a positive relationship with their bank, but after a month without receiving a formal response they approached Legacy Livestock for a $300,000 livestock finance limit. This was approved and documented within 5 business days, enabling Kate and Ian to undertake several purchases at attractive prices. These trades enabled Kate and Ian to convert surplus pasture into profitable trades (matching stock rate to carrying capacity), enhancing the financial performance of their business.
With seasonal conditions continuing to be favorable Kate and Ian saw an opportunity to further increase trade cattle numbers and asked Legacy Livestock to consider increasing their facility from $300,000 to $500,000. Having already established the strong personal character of Kate and Ian, coupled with excellent operational management skills, Legacy Livestock approved and documented the increase within 48 hours enabling Kate and Ian to further increase livestock numbers to match carrying capacity and in doing so optimise the financial performance of their business.
Subsequently Kate and Ian’s son, Joe, also wished to increase his livestock numbers. With a supporting guarantee from Kate and Ian, Legacy Livestock were happy to assist Joe to grow his livestock business by providing him with a $150,000 livestock finance limit. Given the good character and values instilled in Joe by Kate and Ian Legacy Livestock is excited to support Joe grow his own livestock operation.
Since inception Kate and Ian have undertaken several trades and experienced healthy returns. Using Legacy Livestock’s finance facility Kate and Ian have been able to convert favourable seasonal conditions into real cash profits enhancing the financial performance of their business.
