Macra president James Healy welcomed the new €1bn European Investment Bank (EIB) loan fund, though he underlined that only 10% was guaranteed for young farmers.
“Pressure must now be put on the banks to match the money and actually facilitate this product,” he said.
Healy warned that the current Government-supported Future Growth Loan Scheme was supposed to make unsecured finance available, but conditions introduced by the banks mean that “we’re still losing out”.
ADVERTISEMENT
Flexibility
Macra’s president called for flexibility, with both unsecured and secured finance for investment or working capital.
New approaches such as stocking loans where the stock is put up as collateral could be explored, as seen in other countries, he added.
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.
Macra president James Healy welcomed the new €1bn European Investment Bank (EIB) loan fund, though he underlined that only 10% was guaranteed for young farmers.
“Pressure must now be put on the banks to match the money and actually facilitate this product,” he said.
Healy warned that the current Government-supported Future Growth Loan Scheme was supposed to make unsecured finance available, but conditions introduced by the banks mean that “we’re still losing out”.
Flexibility
Macra’s president called for flexibility, with both unsecured and secured finance for investment or working capital.
New approaches such as stocking loans where the stock is put up as collateral could be explored, as seen in other countries, he added.
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