I warmly welcome the news that a special €150m low-cost agri-loan scheme to ease financial pressure on livestock, tillage and horticulture farmers is being announced today.
The plans for the scheme were revealed in the Budget in response to the farming community’s needs.
The scheme, which was developed by the Department of Agriculture in co-operation with the Strategic Banking Corporation of Ireland (SBCI), will make €150m available to farmers throughout Ireland at low-cost interest rates of 2.95%. This is supported by €25m from the Department and €11m in EU aid. The maximum loan is €150,000 per farmer.
The scheme is all about providing cash-flow and assisting in the ongoing financial viability of farming enterprises and is something that I warmly welcome. Further details can be got here: