Farmers have the opportunity to apply for long-term loans ranging from €25,000 to €3m from AIB to support farm development, productivity, resilience and sustainable investment.

The bank has reopened applications under phase two of the Strategic Banking Corporation of Ireland (SBCI) Growth and Sustainability Loan Scheme (GSLS) to eligible farmers, foresters, fishers and small and medium-sized enterprises (SMEs).

The Government-backed scheme has been expanded by a further €500m, increasing total lending capacity to €1b, and extended until 30 June 2029 or until fully subscribed, whichever is earlier.

ADVERTISEMENT

Repayment terms of seven to 10 years are available, with loans of up to €500,000 unsecured and additional discounts for eligible green projects available.

AIB is one of five finance providers participating in the scheme.

Investment support

Subject to scheme eligibility, funding can support a broad range of investments designed to improve productivity, sustainability and business growth.

These can include buildings and equipment, electric vehicles and charging infrastructure, energy efficiency and renewable energy, digital technology, research and innovation and business expansion.

For farming and agri-food businesses, funding may also support investment in areas such as animal welfare, precision agriculture, emissions reduction, water and nutrient management, and biodiversity.

Improving businesses

“Farmers and SMEs are making important decisions about the future of their businesses - from upgrading buildings and equipment to improving energy efficiency, adopting new technology and investing in lower-emission practices,” Elaine Downey, AIB head of retail SME, commented.

“Access to affordable, long-term finance can help farm families and SMEs manage these investments, protect competitiveness and build resilient businesses for the next generation.

“We are delighted to continue our partnership with the SBCI and make this funding available immediately to eligible customers across Ireland.

“The AIB agri advisor and business advisor teams are available to support customers as they consider investments to improve productivity, resilience and environmental performance.”