Herd leasing company, CowBank has leased over 40,000 cows in almost 300 leases in southern Australia within the last decade. Rod Banks, Founder of the agricultural finance company explained that 40% of the business was located in south-west Victoria.
Having been in operation for over 10 years, CowBank continues to play an important role in the development and growth of the dairy industry with their herd leasing offering.
Mr Banks explained that the cattle leasing company works with clients that can grow grass, love their cows and wish to be part of the industry in the future. "CowBank can provide farmers with the capital for your dairy herd to assist with the growth of the business."
Mr Banks said CowBank leasing proposals did not have a stock or land mortgage and added that the cow is the security. Additionally, the herd lease is valued on the full market value of the cow or herd.
"If the herd is maintained and normal calving rates are achieved, the lease can actually pay for itself within the five-year lease period," he said.
More information on herd leasing is available from CowBank.