Glanbia co-op to allow beef and members of the farmer to obtain credit scheme

  • Glanbia co-op to allow beef and members of the farmer to obtain credit scheme
    FarmIreland.t. E.
    Glanbia co-op is to increase funds for its recently announced an extended credit (EC) of €30 million and expanded the criteria for inclusion of fodder crops catch and beef and sheep enterprises.
    https://www.independent.ie/business/farming/agri-business/companies/glanbia-coop-to-allow-beef-and-sheep-farmer-members-access-to-credit-scheme-37214577.html
    https://www.independent.ie/business/farming/article35472041.ece/80f99/AUTOCROP/h342/FAR_20130514_AFA_008_27545286_I2.jpg

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Glanbia co-op is to increase funds for its recently announced an extended credit (EC) of €30 million and expanded the criteria for inclusion of fodder crops catch and beef and sheep enterprises.

The scheme supports the qualification of members, offering interest-free installments for the purchase of materials from Glanbia of Ireland.

Glanbia Group Chairman Martin Keane confirmed that the initial €20 million extended credit to farmers, said 13 July was executed on the closing date of application 3 August.

He said: “following a very positive response and constant prey base, the problems faced by the members of the Board of Glanbia co-op adopted today a decision to increase the funds allocated for the scheme from €20 million to €30 million”.

In addition, the Board of Directors approved that the beef and the farmer members of Glanbia co-op, who are customers of Glanbia Ireland can now apply to participate in the extended loan schemes.

To qualify for the beef and sheep advanced credit, the customer must meet the following criteria to be Glanbia co-op members. Must also meet the following requirements:

  • Acquired a minimum of £ 5000 worth of feed and fertilizers from Glanbia of Ireland, for the 12-month period from August 2017 to July 2018;
  • Qualifying purchases of beef and sheep scheme-all feed and fertilizer purchased from Glanbia in the period from 13 August to 13 October;
  • For the individual farmer, the available amount is set at not more than 20% in the last 12 purchases a month of the applicant qualifying products;
  • Redemption will be made in three months in October 2019, April 2020 and October 2020 in equal shares;
  • Sign up for acceptance-free write off their Bank the required mandatory redemption;
  • Participation in this scheme is subject to credit evaluation and individual limits

Glanbia co-op also announced that seeds and fertilizers were purchased by the members of the cooperative (plowing or cattle farmers) for growing crops to increase the supply of feed for the coming winter now eligible for inclusion in the extended credit schemes;

Dairy farmers who missed the deadline for application can now apply for participation in the scheme of the EU on the closing date of 31 August.

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