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By Graeme Jennings
If the farm business applying for a RIC loan is a Partnership or Trust you will need to provide originals or certified copies of supporting documentation as listed below.
Evidence of Australian citizenship or permanent residency needs to be a copy of the relevant documentation that has been certified as true and correct by an Acceptable Referee:
As part of your RIC loan application you will need to provide copies of your actual and projected budget cash flows. To guide you as to what information RIC will need they have provide a downloadable template on their webiste. Click here to download the template.
Your financial year-to-date actual results and a cash flow budget projection for the remainder of the current financial year.
Your cash flow budget projection for the next financial year. If, as part of your application, you are forecasting a ‘significant financial impact’ over a 2 year period, you will need to include a budget for the applicable period.
As part of your RIC loan application you will need to be able to provide documentary evidence (proof) of the identity of all the individuals associated with your farm business. This includes:
The acceptable identification must contain the individuals full name and either residential address or date of birth. The acceptable identification documents comprise:
A certified copy of identification is one that has been certified as true and correct by an Acceptable Referee:
At least one member of the farm business applying for a RIC loan must be an Australian citizen or have Australian Permanent Residency.
As part of your RIC loan application, you will need to provide evidence (proof) of Australian citizenship or permanent residency for that member of your farm business. We will ask you to upload copies of the certified documents to our secure form.
Evidence of Australian citizenship or permanent residency needs to be a copy of the relevant documentation that has been certified as true and correct by an Acceptable Referee:
A Season Update client is a farming entity that has previously had Latevo Farm Income Protection and has completed a Latevo Income Assessment.
If you are unsure if you are a Season Update client please contact Latevo or your broker for assistance.
A New Client is a farming entity that has not previously taken out Latevo Farm Income Protection or has never had a Latevo Income Assessement.
If you are unsure if you are have ever had a Latevo Income Assessment please contact Latevo or your broker for assistance.
Please ensure the cashbooks files are a detailed general ledger (transaction) by category report preferably in pdf format from your accounting software. There should be an individual file for each financial year.
Do not provide summary files, we are specifically looking at your grain sales transactions and a summary file will not provide this detail.
If you would prefer not to provide your full cashbooks please ensure you provide your detailed grain transactions and any associated transactions such as share farming.