Bank of Ireland and Ulster Bank are continuing to accept applications for the SBCI Agriculture Cashflow Support Scheme, although both are simply adding those farmers to a waiting list for any potential unallocated funding.
All three banks operating the low-cost loan scheme, Bank of Ireland, AIB and Ulster Bank, have already indicated that early applications have exhausted their available funding of €150m.
However, while AIB is completely closed to all new applications, the other two banks are continuing to take in applications and place those farmers on a provisional or waiting list.
John Fitzgerald from Bank of Ireland told the Irish Farmers Journal: “We are currently processing the large volume of applications to finalise those borrowers for inclusion in the scheme.
“We will continue to accept applications until 31 March, with applications currently being received up to that date being placed on the provisional list. Bank of Ireland will be in contact with every individual applicant as we make progress in processing the applications that have been received since the scheme launched through to 31 March.”
He added: “The Cashflow Support Scheme has demonstrated a strong level of demand for the refinance of capital expenditure incurred in recent years, and the bank is currently reviewing how to respond to this particular need for applicants received before 31 March.”
A spokesperson for Ulster Bank said that the bank had exhausted its funding allocation under the SBCI Agriculture Cashflow Support Loan Scheme.
“New applications for loans under the scheme are being provisionally accepted and will be placed on a waiting list, in the event of any residual funding becoming available.”