The president of the IFA Joe Healy has welcomed the opening of the scheme, saying that the IFA campaigned strongly throughout 2016 for lower-cost credit to be made available to the farming community.

“The initial announcement of the low-cost fund in Budget 2017 was met with a hugely positive response from the farming sector,” he said. “It is my belief that there will be strong demand for these loans, with farmers using the funding available to restructure their financial commitments and to access low-cost working capital.”

Healy added that since the announcement of the loans in the October Budget, the IFA has kept the pressure on to ensure that loans were made available in early 2017.

Farmers should apply for this low-cost finance if appropriate for their farm enterprise needs

“Farmers make their financial planning decisions at the start of the year and it was critical that loans, at a rate of 2.95%, were available as early as possible.”

Healy said he is “encouraging” farmers to look at the overall structure of their short-term financing arrangements and to apply for this low-cost finance, “if appropriate for their farm enterprise needs”.

Creed launches low-cost loan scheme for farmers

IFA: farmers should apply for low-cost loan if appropriate

The Irish Farmers Association has welcomed the launch of the agri cashflow support scheme by Agriculture Minister Michael Creed.