Agri-Business
The new credit guarantee scheme is being launched today (Monday, September 7) for farms and small businesses.
Three ministers have launched the Future Growth Loan Scheme to allow for the roll-out of €300 million in funding to eligible Irish SMEs.
The timeline and application details of the farmer low-cost loan scheme has come under fire today (Monday, February 11).
Applications to the €300 million Brexit Loan Scheme remain ineligible from farmers, Minister for Agriculture Michael Creed has clarified.
The previous low-cost loan scheme has acted as a 'catalyst' for better cash-flow products in the agri sector, according to Minister Creed.
The much-talked-about low-cost loan scheme will be available at the start of 2019, according to Minister for Agriculture Michael Creed.
The ICMSA expressed disappointment towards the exclusion of loans for the purposes of alleviating cash-flow difficulties
Details on the Long-term Investment Loan Scheme have been revealed by Minister Creed, with approval expected in October.
Announcement on the much-anticipated low-cost loan scheme is imminently expected, the chairman of the Oireachtas Agriculture Committee says.
Agri Politics
The continuing nonappearance of the Brexit Low Interest Loan Scheme was top of the agenda for the ICMSA ahead of Budget 2019.
Pressure is mounting on Minister for Agriculture Michael Creed to open a €25 million low-cost loan scheme that was announced in Budget 2018.
It has been confirmed that a €300 million low-cost loan scheme will be introduced next year as part of Budget 2018.
Ulster Bank has encouraged farmers to apply for "a small amount of money" which has been left over under the low-cost loan scheme.
A total of 82%, or €54 million, has been drawn down to date under the low-cost loan scheme, according to the Bank of Ireland.
The Agriculture Cashflow Support Loan Scheme, provided by Bank of Ireland, Ulster Bank and AIB, proved to be very popular amongst farmers.
The Strategic Banking Corporation of Ireland (SBCI) came in for heavy questioning in front of the the Joint Oireachtas Committee on Agriculture last week.
The Minister for Agriculture, Michael Creed said he is very pleased at the positive reaction by farmers to the low-cost loan scheme.
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.
The opening of the low-cost loan scheme or Agri Cashflow Loan Scheme for farmer's applications appears to be drawing closer.
The low-cost loan scheme is on course to open for applications by the end of the month, a spokesperson for the SBCI confirmed to Agriland.
Some 66% of farmers will apply to seek funding under the low-cost loan scheme, a recent Agriland survey has found.
Farmers need to assess their borrowing capacity before applying to the new low-cost loan scheme, according to the ICSA's Rural Development Chairman Seamus Sherlock.
