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Future Growth Loan Scheme

The Future Growth Loan Scheme is being developed by the Department of Agriculture, Food & the Marine and the Department of Business, Enterprise and Innovation in partnership with the Department of Finance, the Strategic Banking Corporation of Ireland (SBCI) and the European Investment Fund (EIF). It will be delivered through participating finance providers and make up to €300 million of long-term investment loans available to eligible Irish businesses, including farmers and the agri-food & seafood sectors. The loans will be competitively priced and will be for terms of 8-10 years.

This is a long-awaited source of finance for young and new entrant farmers, especially the cohort who do not have high levels of security. It will also serve smaller-scale farmers, who often do not have the leverage to negotiate for more favourable terms with their banking institution.

Food companies have identified long-term investment finance of up to ten years as a critical need which is currently unavailable in Ireland. The delivery of this product and its effects will be felt all along the food production chain.

Arrangements are currently being finalised to have the Scheme in place and ready to launch as soon as possible. The Scheme will run for three years from its launch date and further announcements in this regard will be made shortly.