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Farmers made up one-third of all applications to the Future Growth Loan Scheme (FGLS), applying for an average loan of €122,857.
Less than half of approved farmer loans have been sanctioned, with 601 farmers waiting for loans.
However, this could also be due to farmers who received initial approval holding off on accessing the full loan amount until they are ready.
The information came to light in response to a parliamentary question from Fianna Fáil spokersperson for agriculture Charlie McConalogue.
To date, the value of sanctioned farm loans has reached €51.6m
Loans under the scheme provide credit for capital investment, such as sheds and other buildings.
To date, the value of sanctioned farm loans has reached €51.6m.
The fund was doubled to €120m for farmers last November, with dairy farmers leading the charge on loan applications to date.
The scheme has been open since last April and farmer demand has now exhausted their portion in all three pillar banks.
Minister for Agriculture Michael Creed said that he negotiated a lower minimum amount of €50,000 for them, describing it as a vital scheme for “small-scale farmers” and young or new entrant farmers without high levels of security.
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