The first letters of offer have been sent to successful applicants in the second tranche of the Tier 1 capital grant scheme in Northern Ireland.

The Tier 1 element of the Farm Business Improvement Scheme provides up to 40% grant funding for equipment and machinery costing between £5,000 and £30,000.

The second tranche of the scheme is oversubscribed, with DAERA receiving 2,996 applications in February. This means successful applicants will be chosen based on the points-based selection criteria.

“Letters of offer will continue to issue over the coming weeks to eligible applications, commencing with those receiving the highest score until the available budget is fully allocated,” DAERA said on Friday.

The department confirmed that a budget of £7.5m has been approved for the second tranche of Tier 1. The same budget was available in the first tranche of the scheme and allowed funding for around 1,500 applicants.

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Tier 1 grant oversubscribed again

Second tranche of Tier 1 opens