Agri-Business
Bank of Ireland has already issued €39.1 million under the low-cost loan scheme; representing 60% of its allocation under the scheme.
The Agriculture Cashflow Support Loan Scheme shows that Irish banks are out of sync with the needs of farmers Senator Mulherin said.
It was recently revealed that a total of €60.2m has been drawn down to date by farmers as part of the low-cost loan scheme.
The average loan size drawn down under the low-cost loan scheme has equalled €32,000 to date, according to the SBCI.
The €150m low-cost loan scheme has been fully utilised, with the recent announcement that Ulster Bank's funding allocation has been exhausted.
Bank of Ireland has moved to accept applications to the low-cost loan or the Agriculture Cashflow Support Loan Scheme on a provisional basis.
