It was announced in the Dail last week that the low interest rate loan scheme for farmers announced in the Budget will be extended over a 6 year period however I would have much preferred if this was a 10 year period as it would give farmers more scope at 2.9%. The Minister stated in the Dail that he hoped that the successful applicants for the scheme could be ready to go by the middle of January and that the main banks and credit unions would be able to participate in this scheme,This is money that is badly needed in the farming community and we need to ensure that it is delivered promptly and I would urge the Minister to think again and to extent the loan facility term to 10 years.
