Exclusive to Irish dairy farmers
Where do you realy begin?
MilkFlex is an award winning loan item built to offer dairy milk companies into the Republic of Ireland with a cutting-edge loan item that helps protect farm incomes through the effect of dairy market volatility, seasonality and condition outbreak.
After an statement through the Minister of Agriculture on 8th might 2018, Finance Ireland Agri has launched MilkFlex as being a product that is national available through participating Co-ops.
The main element function of MilkFlex is so it has inbuilt ‘flex causes’ that can adjust loan repayments consistent with motions in milk cost, thereby supplying farmers with cashflow relief whenever most needed.
MilkFlex was created to assist dairy farmers enhance efficient dairy manufacturing and certainly will be utilized for a multitude of purposes.
Intent behind the mortgage
Investment in effective dairy farm assets
Farm infrastructure (milking parlours, animal housing, farm roadways, etc.)
Dairy livestock acquisitions
Any work linked to schemes that are environmental low emissions slurry equipment (TAMS funded and non-TAMS funded) etc.
Grassland or land enhancement, including reseeding and drainage works
Technical improvements, e.g. milking robots, monitoring gear etc.
Refinancing of any loan, money or cashflow used in / on dairy farm jobs, which commenced on or after first March 2014
Working capital for dairy agriculture
Loan information booklet
Wish to know more about MilkFlex?
Find out about the important thing options that come with a MilkFlex loan additionally the application procedure in this of good use information booklet. Read our FAQs to get more.
So how do you realy begin?
Or request a callback
The Mortgage Application Process
Before a farm see may be carried out, the next is needed to guarantee meaningful engagement on the afternoon of this check out plus the suitability of MilkFlex for your needs:
Loan Amount & Purpose details
An Irish Credit Bureau/Central Credit Enroll check
Experience of your accountant to offer information that is financial
Have the most recent 36 months milk manufacturing information from your own participating dairy Co-op
Note: A New Entrant to dairying is supposed to be necessary to hold a Green Cert or qualification flex-pay installment loans Arizona that is equivalent.
You may possibly contact Finance Ireland straight by phone, by way of a specific point of contact in your local Co-op, or by going to the Finance Ireland site on www.financeireland.ie.
On receipt of contact, we’ll offer you our Privacy Notice outlining just exactly how your individual information will be prepared.
Farm Browse Conducted
After the receipt of one’s initial information, Finance Ireland will contact you to definitely organize a mutually beneficial time and energy to meet. The Agri Business Manager (ABM) will review all aspects of the farm enterprise at the farm visit. The ABM will ask the applicant to produce the information that is following the farm check out:
As soon as most of the above information has been supplied the ABM will compose an extensive farm credit report, make a suggestion to the committed Agri Credit Team and return with a choice within agreed timeframes.
Accept loan drawdown procedure
As soon as authorized, the effective applicant will get a milkflex loan agreement that is formal. In which the accepts that are applicant loan contract they’ll be expected to present listed here within the loan drawdown process:
a finalized milk supply contract (MSA) between your participating Co-op therefore the applicant. The minimal term for this MSA is likely to be 8 years but may increase to ten years, to suit the mortgage term, in the event that flex trigger activities are exercised throughout the term of this loan.
A finalized Payment Instruction Letter authorising the participating Co-op to subtract loan repayments from milk receipts.
A signed letter of guarantee will need to be provided in the case of limited companies.
FIA will issue the mortgage straight to the applicant’s selected bank account. Generally speaking, the process that is whole from initial contact to loan drawdown may be completed in under 30 days. Nevertheless, this schedule is based on the information and knowledge asked for being supplied by the applicant in a prompt way.