Three product offerings were launched by the SBCI on Thursday, including an agriculture investment loan package.
AIB and Bank of Ireland are partnering with the bank in the new programme, with loans available from 9 March.
Farmers can apply for funding of €5m for between 2 and 10 years to invest in improvements and agricultural products. Loans from AIB has a discounted interest rate of 4.5%.
ADVERTISEMENT
IFA President Eddie Downey welcomed the loans, though he said the farming sector would be looking for a number of conditions.
“Specifically, farmers expect the loans to be flexible, allow for ease of access, offer lower rates than that currently available and be in a position to cater for variable scales of investment on farms," he said.
"Significant investment is planned on farms with the abolition of milk quota and the rollout of the RDP TAMS programme. It is expected that there will be strong demand from the farming sector for matching funding via the banking system over the coming years."
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Three product offerings were launched by the SBCI on Thursday, including an agriculture investment loan package.
AIB and Bank of Ireland are partnering with the bank in the new programme, with loans available from 9 March.
Farmers can apply for funding of €5m for between 2 and 10 years to invest in improvements and agricultural products. Loans from AIB has a discounted interest rate of 4.5%.
IFA President Eddie Downey welcomed the loans, though he said the farming sector would be looking for a number of conditions.
“Specifically, farmers expect the loans to be flexible, allow for ease of access, offer lower rates than that currently available and be in a position to cater for variable scales of investment on farms," he said.
"Significant investment is planned on farms with the abolition of milk quota and the rollout of the RDP TAMS programme. It is expected that there will be strong demand from the farming sector for matching funding via the banking system over the coming years."
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS