Fast funding when opportunities arise
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Supporting dairy farmers at every stage
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Fast funding when opportunities arise • Supporting dairy farmers at every stage •
Business support to achieve farming goals
IT was hard for Cassandra Kath to put into words how she and husband Andrew work with CowBank.
And it’s not because the dairy farmers from northern Victoria don’t get value from the herd leasing operation. In fact, it’s the opposite - and some of the support isn’t immediately quantifiable on the business balance sheet. “Technically CowBank is an investor in our herd, although it is structured as a lease, but it doesn’t feel that way,” Cassandra said. “They are partners, helping us grow our business. They have helped us with decisions and information that has no direct benefit to their return. “Our financial agreements are one part of how we work with CowBank, but they are also a mentor - not so much a consultant - more a supporter within our business.”
Cassandra said it was also helpful to have their herd in a “separate financial structure” when it came to seeking money to buy the farm. “It meant we weren’t using equity in the business for cows,” she said. “The different structure suited us in a lower equity position.”
Cassandra and Andrew have used CowBank finance and bank finance in different capacities throughout their dairy farming journey. But it was CowBank that enabled them to quickly capitalise on a herd sale deal. “The last people we sharefarmed for, they were like ‘you can buy the rest of the herd if you can come up with the money in 10 days’,” Cassandra said.
“We came up with the money, thanks to CowBank. It would have taken longer through a bank.” Cassandra said they’ve often turned to CowBank for guidance or valuable local context to better understand processes or systems within specific regions. She explained that CowBank not only drew information from its vast network to underpin its advice, but Rod Banks’ - from CowBank - was great at identifying skills within the business.
“Rod helped us become clear with our production system in Northern Victoria, what’s working for us and how we can pursue silage off-farm,” Cassandra said.
“This has enabled us to milk 550 cows on 500 acres. My husband is really good at sourcing quality feed and Rod is good at pointing out our strengths and weaknesses to make us aware of it.”
Supplying Coles with another two years on their contract, Cassandra said there’s still “money in it” to supply milk, even with bought-in feed, and they were confident.
They’ve also recently sponsored a Filipino couple to work on the farm and will also add an additional staff member from Kenya.
Cassandra said CowBank provides vital context for decisions she and Andrew make on farm, with this insight informing investments. “Hearing from Rod or Luke (Fitzpatrick) about what other great businesses are doing, gives us confidence to employ people,” Cassandra said. “It’s pivotal for us to be able to step-away and focus our time on the business, not just in the business.”
Cassandra and Andrew milk 500 cows on a farm at Echuca in Victoria which they purchased in early 2024.
The couple worked their way through the dairy industry from Queensland to Victoria, via New South Wales, with many share farming arrangements.
But ever since beginning their dairy farming career, their goal was to milk 500 cows, on their own farm, with a team of people and move into management roles.
They also strived for their business to provide the freedom to pursue interests off-farm and now Cassandra works two days a week for the business coaching and education organisation Farm Owners Academy.
Cassandra said CowBank helped them build equity and enabled the purchase of their farm.
“Because we were through CowBank, us and CowBank, owned a herd of up to 550 cows,” she explained.
“Then, through our time share farming, we’d built-up machinery inventory and a team, so when this farm came up for sale - although it is a little smaller - we were able to buy it and move.”