Ireland: Lakeland Dairies rolls out new scheme

The Irish dairy cooperative Lakeland Dairies has partnered with over a dozen leading equipment manufacturers and finance company to roll out a new scheme that will help farmers invest in critically important on-farm equipment. The FundEquip scheme allows Lakeland Dairies suppliers make investments in machinery and equipment on their farms providing loans at interest rates over a three-year or five-year term. Equipment which is available includes among others: bulk tanks and cooling equipment; feed bins; generators; milk recording equipment; solar panels; sutomatic calf feeders; auto ID / heat detection units. Loan amounts from 3000 to 75000 euro with funding options of between three and five years at interest rates of 3.9 percent for three-year terms and 4.5 percent for five-year terms. In order to manage cashflow effectively, repayments are deducted from a farmer’s milk cheque only between April and November. Applicants must have been supplying Lakeland Dairies for longer than 12 months. No security is required but applicants must be able to show a credit history.

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