The first round of Less Favoured Areas Support Scheme (LFASS) loan payments will be paid to farmers and crofters next week.
Rural Economy Secretary Fergus Ewing has confirmed that more than 7,400 payments, worth more than £45million, have been processed for payment.
He said a further tranche of payments was likely to follow as a total of 11,000 loan offer letters had been issued to producers.
“I understand how important these payments are for farmers, crofters and the wider rural economy, so I’m delighted to see the money being released to those that require this much needed financial security,” said Mr Ewing.
“Farmers and crofters who accept the offer, but have missed the May 5 deadline, will still receive the full payment to which they are entitled, and will receive it as soon as possible. I’d encourage anyone yet to apply for an LFASS loan to do so.”
NFU Scotland vice-president Martin Kennedy, who farms in Highland Perthshire, said the loan payments would be welcomed by farmers and crofters.
He said: “While the weather has been kind, leading to good lambing and calving for most, this time of year is always the most challenging financially for beef and sheep producers in more disadvantaged areas.
“There are lots of costs and bills to settle at a time when little or no revenue is coming in and that severely tests the cash flow of even the most prudent farmer or crofter. It’s the timing of this LFASS cash injection that makes it of real value, rather than the sums involved.”
He said producers not included in this first round of payments must not be overlooked.
“Further loan scheme letters have been issued in recent weeks and we’ll be pressing Scottish Government to ensure that all those eligible and who have opted in get their loan amount as soon as possible,” added Mr Kennedy.