Dairygold has negotiated lower-cost loan facilities for its milk suppliers in light of the challenging dairy markets.

The loan facilities, through both Bank of Ireland and AIB, will be available to Dairygold milk suppliers from 1 September.

The loans are available to support farm expansion plans along with cashflow demands.

The loan facilities differ in the case of each of the two banks. Financing options are at discounted variable rates of as low as 4.1% for SBCI (Strategic Banking Corporation of Ireland) eligible loans or 4.5% for non-qualifying loans.

A credit line facility to aid cashflow is also available at less than 4% to milk suppliers. The funding is available for the farm development, including land purchase, capital investment, stock purchases and working capital for farm inputs.

No security is required on loans of up to €65,000. Loans range from 2-20 years in duration depending on the type. Dairygold will not be providing financial advice.