Kerry and Cork farmers have biggest uptake of loan scheme

Farmers in Kerry and Cork had the biggest take up of a low-cost loan scheme.

The project was developed to help boost cash flow on farms following a tough year.

The South West region accounted for 13.2 million or 22 per cent of the over 60 million euro, which has been drawn down to date under the Agriculture Cashflow Support Loan Scheme.

Dairy farmers accessed 42 per cent of funds followed closely by beef farmers, tillage was eight per cent and two per cent were sheep farmers.

The scheme was developed by the Department of Agriculture with the Strategic Banking Corporation of Ireland and makes €150 million available with an interest rate of 2.95 per cent.

The average loan size is €32,000 and the remainder of the money is in the process of being drawn down.

Around 4,000 farmers will benefit from the scheme.