Ulster Bank launches new finance products aimed at food and drink industry

Ulster Bank has launched a new selection of tailored product solutions for Ireland’s growing food and drink sector.

The products, it says, are aimed at supporting the wide variety of businesses within the sector, from start-ups to companies seeking to introduce a new product range or grow through exports.

“Food and drink is our country’s most important indigenous industry, worth €25 billion in turnover to the economy and employing over 230,000 people,” said Ailish Byrne, Senior Agri-Food Manager, Ulster Bank.

She said the goal in Ulster Bank is to support both existing and new customers in this sector, with a dedicated team of managers with proven experience in many areas of food and drink, who are equipped to support you through a crafted menu of products and services to suit your specific business.

One of the packages available is aimed at people looking to purchase, expand or renovate premises that are involved in the food and drink sector.

Another product it has launched is for people investing in a business, that is re-branding or developing new products, while the Bank is also offering loans to those upgrading or purchasing the equipment or machinery that is needed to run a food and drink company.

The Minister for Agriculture, Food and the Marine, Simon Coveney welcomed Ulster Bank’s focus on the food and drink sector.

“Under the Food Harvest 2020 strategy, we have set ambitious targets to grow the food sector in Ireland by €3 billion and to reach €12 billion in exports.

“Access to the right finance will enable companies to achieve these goals, supporting businesses in entering the sector, in their product development and equipment and for those companies already up and running, enabling them to tap in to the overseas markets where there is great demand for quality Irish food and drink products,” he said.

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