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Exclusive to Irish dairy farmers

Where do you realy begin?

MilkFlex is an award winning loan item built to offer dairy milk vendors when you look at 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 key function of MilkFlex is so it has inbuilt ‘flex causes’ that can adjust loan repayments consistent with motions in milk cost, thus supplying farmers with cashflow relief whenever most needed.

MilkFlex was designed to assist dairy farmers enhance efficient online installment MS dairy manufacturing and certainly will be properly used 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 pertaining 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, cashflow or cash found in / on dairy farm projects, which commenced on or after first March 2014

Performing 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 together with application process in this helpful information booklet. Read our FAQs for lots more.

So how can you begin?

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The Mortgage Application Process

Before a farm check out is carried out, listed here is needed to guarantee engagement that is meaningful the afternoon of this check out plus the suitability of MilkFlex for your needs:

Loan Amount & Purpose details

An Credit Bureau/Central Credit Register that is irish check

Connection with your accountant to give you financial information

Have the latest 36 months milk manufacturing information from your own participating dairy Co-op

Note: A New Entrant to dairying is likely to be necessary to hold a Green Cert or comparable certification.

You might contact Finance Ireland straight by phone, through a point that is dedicated of inside your local Co-op, or by going to the Finance Ireland web site on www.financeireland.ie.

On receipt of contact, we shall give you our Privacy Notice outlining just how your data that are personal be prepared.

Farm Browse Conducted

Following a receipt of the initial information, Finance Ireland will contact one to organize a mutually useful time and energy to satisfy. 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:

Once all of the above information has been supplied the ABM will write an extensive farm credit report, make a suggestion to the devoted Agri Credit Team and return with a decision within agreed timeframes.

Accept loan drawdown procedure

When authorized, the effective applicant will get an official milkflex loan contract. In which the accepts that are applicant loan agreement they’ll be asked to supply the next within the loan drawdown process:

a milk that is signed contract (MSA) between your participating Co-op plus the applicant. The minimal term for this MSA is going to be 8 years but may increase to a decade, to suit the mortgage term, in the event that flex trigger occasions are exercised through the term regarding the 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 are completed in under four weeks. But, this schedule is dependent on the info asked for being provided by the applicant in a prompt way.