Overview MilkFlex. MilkFlex is made to assist dairy farmers enhance efficient dairy manufacturing and may be utilized for a multitude of purposes.

Overview MilkFlex. MilkFlex is made to assist dairy farmers enhance efficient dairy manufacturing and may be utilized for a multitude of purposes.

Exclusive to Irish dairy farmers

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Where do you really begin?

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

Following an statement through the Minister of Agriculture on 8th might 2018, Finance Ireland Agri has launched MilkFlex as a product that is national available through participating Co-ops.

The important thing function of MilkFlex is so it has inbuilt ‘flex causes’ that can adjust loan repayments in accordance with motions in milk cost, therefore supplying farmers with income relief whenever most needed.

MilkFlex is made to assist dairy farmers enhance dairy that is efficient and certainly will be properly used for numerous purposes.

Reason for the mortgage

Investment in effective dairy farm assets

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

Dairy livestock acquisitions

Any work associated with 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 every loan, money or cashflow found 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 additionally the application procedure in this information booklet that is useful. Read our FAQs for lots more.

So where do you really start?

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The Mortgage Application Process

Before a farm check out could be carried out, the next is needed to guarantee engagement that is meaningful a single day for the check out plus the suitability of MilkFlex for your needs:

Loan Amount & Purpose details

An Irish Credit Bureau/Central Credit Join check

Connection with your accountant to present information that is financial

Have the latest 36 months milk manufacturing information from your own dairy that is participating Co-op

Note: A New Entrant to dairying is likely to be needed to hold a Green Cert or comparable certification.

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

On receipt of contact, we are going to offer you our Privacy Notice outlining how your individual information will be prepared.

Farm Browse Conducted

After the receipt of the initial information, Finance Ireland will contact you to definitely organize a mutually useful time for you 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 present the after information at the farm check out:

Once most of the above information has been supplied the ABM will write a thorough farm credit report, make a suggestion to the devoted 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 formal milkflex loan contract. In which the applicant accepts the loan contract they’ll certainly be expected to supply listed here within the loan drawdown process:

a milk that is signed contract (MSA) involving the participating Co-op plus the applicant. The term that is minimum of MSA will likely be 8 years but may increase to a decade, to complement the mortgage term, in the event that flex trigger activities are exercised throughout the term regarding 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 businesses, a finalized page of guarantee will have to be supplied.

FIA will issue the mortgage right to the applicant’s selected bank account. Generally speaking, the whole procedure, from initial contact to loan drawdown could be completed within just 30 days. Nonetheless, this schedule is based on the information and knowledge asked for being given by the applicant in a manner that is timely.