Good interest in new farm loan scheme

Bank of Ireland says there’s been a high level of interest in the new loan application scheme.

The new scheme, which was announced by the government in the last budget, has now opened for applications at all banks.

It’s called the SBCI Agriculture Cashflow Support Loan Scheme and it makes €150 million available to farmers throughout Ireland at low-cost interest rates of 2.95%.

However, John Fitzgerald, Head of Agriculture at Bank of Ireland, says the early applications have revealed an element of details being filled out incorrectly.

He’s urging farmers to take time to fill out the forms to avoid delaying the process of drawing down a loan:

And you can hear that interview with John Fitzgerald in full on Agri-Week tonight at 9pm with myself Claire Mulcahy