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Under the terms of the €150m low-cost loan scheme, Ulster Bank was awarded the smallest proportion of the fund at €25m.
Bank of Ireland received the largest share of the funding at €65m, while AIB was allocated the remaining €60m to loan out to farmers.
While Ulster Bank had a large uptake of the low-cost loans since they launched in February, some of the €25m in funding received by the bank remains unallocated, meaning there is a limited amount of funding remaining for farmers wishing to apply for a loan under the scheme.
Applications
Farmers who wish to apply for a loan are asked to do so as soon as possible by Ulster Bank as the scheme is due to close on 15 September.
This is the date by which all loans must be approved by the bank, with all documentation in place. Effectively, this means farmers wishing to apply for a loan from Ulster Bank’s remaining funding under the scheme must do so immediately.
Ulster Bank have asked those interested in applying for a low cost loan to contact them on either 087-684 4265 or 087-995 5626.
The low-cost loan scheme was a collaboration between SBCI and the Department of Agriculture to make available €150m to farmers at a low-cost interest rate of 2.95%.
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