The plans came to light at a committee of public accounts debate. \ Ramona Farrelly
ADVERTISEMENT
The Strategic Banking Corporation of Ireland (SCBI) has confirmed plans for a €330m loan scheme, which will open to farmers in the second half of 2021.
The plans came to light in response to questions from Sinn Féin’s spokesperson on agriculture Matt Carthy at a recent committee of public accounts debate and have since been confirmed by an SBCI spokesperson to the Irish Farmers Journal.
Guarantee fund
ADVERTISEMENT
SCBI interim CEO Ian Black told the meeting that the scheme will be derived from the European guarantee fund.
Black went on to update the committee on the widely popular €150m agricultural cashflow support loan, previously offered by SCBI.
“I believe €145m was drawn down, with 4,240 loans made available. The current outstanding balance is in the region of €35m.
“One of the attractions of that scheme was the interest rate of 2.95%. That is why it was so oversubscribed. We are constantly looking at our existing schemes and looking for new schemes.”
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.
The Strategic Banking Corporation of Ireland (SCBI) has confirmed plans for a €330m loan scheme, which will open to farmers in the second half of 2021.
The plans came to light in response to questions from Sinn Féin’s spokesperson on agriculture Matt Carthy at a recent committee of public accounts debate and have since been confirmed by an SBCI spokesperson to the Irish Farmers Journal.
Guarantee fund
SCBI interim CEO Ian Black told the meeting that the scheme will be derived from the European guarantee fund.
Black went on to update the committee on the widely popular €150m agricultural cashflow support loan, previously offered by SCBI.
“I believe €145m was drawn down, with 4,240 loans made available. The current outstanding balance is in the region of €35m.
“One of the attractions of that scheme was the interest rate of 2.95%. That is why it was so oversubscribed. We are constantly looking at our existing schemes and looking for new schemes.”
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