BoI announces new loan products for agri-food businesses

Bank of Ireland has unveiled a range of new flexible loan facilities to support businesses in the agri-food sector.

The bank said the loan products were developed to support farmers during times of commodity price volatility and the potential impact these can have on farmer income.

The agri sector remains one of best-performing sectors of Ireland’s post-crash economy, with growth in jobs and exports up 11.1 per cent in the first quarter of this year.

Bank of Ireland today announced a new €1 billion fund to support the ongoing development of the agri sector up to the end of 2017.

This new fund will enhance future growth with support available for a range of farm investments and improvements including the purchase of livestock, land and farm machinery, the bank said.

The bank’s new agriflex farm loans will offer customers the opportunity to align their loan repayments with their farm’s cash-flow. With features including interest only repayment periods, agriflex will help offset the impact of sudden falls in farm gate prices to their customers.