AIB has secured €60m, under the SBCI’s €150m Agriculture Cashflow Support Loan Scheme.
This fund will support the cash flow and working capital needs of farmers and SMEs engaged in primary agriculture and is available at a discounted rate of 2.95 per cent.
“AIB is delighted to partner with the SBCI and the Department of Agriculture to deliver this Agriculture Cash Flow Support Loan to the primary agri sector - a key sector for the bank’s activity. I want to encourage all farmers in Tipperary that may be experiencing cash flow pressure or planning their working capital needs for the year ahead to talk to us in AIB. We are ready to give advice and support to help identify the most appropriate solutions to meet their needs, “ said AIB’s head of Tipperary, Denis Dudley.
The loans will be available for terms from one to six years, up to a maximum of €150,000 per farm operation, unsecured and fixed at the discounted rate for the term.