Overview MilkFlex. MilkFlex is made to assist dairy farmers increase dairy that is efficient and certainly will be applied for a multitude of purposes.

Overview MilkFlex. MilkFlex is made to assist dairy farmers increase dairy that is efficient and certainly will be applied for a multitude of purposes.

Exclusive to Irish dairy farmers

Where can you begin?

MilkFlex can be an award loan that is winning made to offer dairy milk vendors into the Republic of Ireland with a forward thinking loan item that helps protect farm incomes through the impact of dairy market volatility, seasonality and illness outbreak.

Following an statement through the Minister of Agriculture on 8th May 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 in accordance with motions in milk cost, thus supplying farmers with cashflow relief whenever most needed.

MilkFlex is made to help dairy farmers increase efficient dairy manufacturing and will be utilized for numerous 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 ecological schemes, 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 every loan, cashflow or cash utilized in / on dairy farm jobs, which commenced on or after first March 2014

Performing capital for dairy agriculture

Loan information booklet

Wish to know more about MilkFlex?

Read about one of the keys options that come with a MilkFlex loan therefore the application procedure in this information booklet that is useful. Read our FAQs for lots more.

So how do you really begin?

Call us

Or request a callback

The Mortgage Application Process

Before a farm see may be carried out, listed here is needed to make sure significant engagement on a single day 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

Experience of your accountant to offer information that is financial

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

Note: A New Entrant to dairying will soon be necessary to hold a Green Cert or qualification that is equivalent.

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

On receipt of contact, we’ll offer our Privacy Notice outlining exactly just 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 time that is mutually beneficial 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 supply the information that is following the farm see:

As soon as most of the above information has been supplied the ABM will compose a thorough farm credit report, produce 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 give you listed here within the loan drawdown process:

a milk that is signed Agreement (MSA) between your participating Co-op plus the applicant. The minimal term of the MSA is likely 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 associated with the loan.

A Payment that is signed Instruction authorising the participating Co-op to subtract loan repayments from milk receipts.

When it comes to restricted organizations, a finalized page of guarantee will have to be supplied.

FIA will issue the https://worldloans.online/installment-loans-or/ mortgage right to the applicant’s selected bank account. Generally speaking, the process that is whole from initial contact to loan drawdown could be completed in under four weeks. But, this timeframe is based on the info asked for being given by the applicant in a prompt way.