Agricultural Credit Corporation Ltd (A.C.C.) – UK

Updated: Aug 20, 2021

Established in 1964 with government support to extend the availability of medium-term bank credit for buildings, equipment, livestock and working capita! to farmers, growers and their cooperatives. After a satisfactory appraisal the A.C.C. offers a guarantee to the farmer’s bank and negotiates the required credit facilities. The A.C.C. guarantees to repay the bank borrowing if the farmer fails to do so. An initiation fee and an annual percentage charge on the amount guaranteed is made.

Reference: The Penguin Business Dictionary, 3rd edt.

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