Overview MilkFlex. MilkFlex was designed to assist dairy farmers increase dairy that is efficient and that can be properly used for a multitude of purposes.

Exclusive to Irish dairy farmers

Where would you begin?

MilkFlex can be an award winning loan item built to offer dairy milk manufacturers within the Republic of Ireland with a forward thinking loan product which helps protect farm incomes through the effect of dairy market volatility, seasonality and infection outbreak.

After an announcement 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 https://worldloans.online/installment-loans-ma/ element feature of MilkFlex is it has inbuilt ‘flex triggers’ that can adjust loan repayments in accordance with motions in milk cost, therefore supplying farmers with cashflow relief whenever most needed.

MilkFlex was created to help dairy farmers enhance dairy that is efficient and may be utilized for a multitude of purposes.

Intent behind the loan

Investment in effective dairy farm assets

Farm infrastructure (milking parlours, animal housing, farm roadways, etc.)

Dairy livestock acquisitions

Any work regarding 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 main element top features of a MilkFlex loan additionally the application procedure in this information booklet that is useful. Read our FAQs for lots more.

So how do you really begin?

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The Mortgage Application Process

Before a farm see could be carried out, listed here is needed to guarantee engagement that is meaningful a single day of this see 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 economic information

Receive the newest three years milk manufacturing information from your own dairy that is participating Co-op

Note: A New Entrant to dairying is needed to hold a Green Cert or qualification that is equivalent.

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

On receipt of contact, we are going to offer you our Privacy Notice outlining just exactly how your data that are personal 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 give you the information that is following the farm see:

When most of the information that is above been supplied the ABM will write a thorough farm credit report, make a suggestion to your devoted Agri Credit Team and return with a choice within agreed timeframes.

Accept loan drawdown procedure

When authorized, the successful applicant will get a milkflex loan agreement that is formal. In which the applicant accepts the loan contract they’ll be expected to supply listed here within the loan drawdown process:

a milk that is signed contract (MSA) involving the participating Co-op therefore the applicant. The term that is minimum of MSA will soon be 8 years but may increase to ten years, to complement the mortgage term, in the event that flex trigger activities 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 right to the applicant’s nominated bank account. Generally speaking, the process that is whole from initial contact to loan drawdown may be completed in under 30 days. But, this schedule is based on the information and knowledge asked for being given by the applicant in a manner that is timely.