Great reply Warnie You may be right on the funder getting a...

Great reply Warnie

You may be right on the funder getting a board seat, particularly if they exercise their options and then have some sway with voting rights.

I think with the agri lending, the key to risk mitigation is looking at who the agri borrower's debtor is. You'd like to think that lending to agri producers that supply major supermarkets carries much less risk than some who supplies an exporter that has a greater risk of consignments being rejected due to spoilage etc. I mean, you'd be taking a huge punt lending to a sheep/cattle producer that's sending stock to the Middle East on a live export ship, that's for sure, but much less risk lending to such a producer that has a supply contract with Coles/Woolworths for a specified number of carcasses per month. The question is do the suppliers to Coles/Woolies need additional funding?

I guess that's something that we may learn about as the business develops.