€2m still available in low-cost agri loans from Ulster Bank
Ulster Bank has approximately €2m of low-cost agri loan scheme monies still available for new applications.
The bank reported that the funding is available after a number of farmers didn't progress with their loan applications, or in some instances didn't draw down the full amount under the scheme.
There was strong demand for the Strategic Banking Corporation of Ireland (SBCI) fund which offered loans at interest rates of 2.95pc.
Both Bank of Ireland and AIB, which administered €65m and €60m respectively, confirmed that their funds were oversubscribed.
Earlier this year Ulster Bank, which had a €25m fund, confirmed it was charging clients a 1pc handling fee.
The scheme was announced in the 2016 Budget to support farmers experiencing short-term financial pressure due to price volatility.
It leveraged €11m of EU aid backed up by exchequer funds of €14m to provide an interest subsidy of €25m.
Farmers could then apply for an unsecured loan of up to €150,000 at a rate of 2.95pc.