Allied Farmers has agreed to sell some loans to an unnamed party for at least $100,000.
The troubled rural services firm, which has struggled after buying Hanover's property loan book in late 2009, says it may possibly get up to another $500,000.
The money will be used to reduce debt.
Allied Farmers, is in talks with a creditor, thought to be Mark Hotchin and Eric Watson, over the repayment of outstanding debts, otherwise liquidators could be appointed.
The company has said it won't be able to repay the loan, which was due on Wednesday, without the support of Crown Asset Management, a secured lender.
