Non-bank lender Finance Ireland has doubled the borrowing limit for its "Milkflex" product for the agri-sector to €1m from €500,000.
Milkflex is supported by over 20 cooperatives across the country and it is the only lending product that is specifically tailored to the needs and requirements of Irish dairy farmers.
To date, Finance Ireland has lent over €350m to farmers under the scheme.
The lender said today it has launched a new 12-year Milkflex loan, complementing its existing eight-year loan, to support dairy farmers with their next phase of growth and expansion.
Billy Kane, the founder and chief executive of Finance Ireland, said the new and enhanced Milkflex product will further support both established dairy farmers and new entrants to the dairy sector across the country.
"Along with increased borrowing limits and a new ability to fund land purchases, dairy farmers can avail of unique product features including repayments that reflect the seasonal milk supply curve, protection against milk price volatility and disease outbreaks," Mr Kane said.
"They are also supported on the ground by an expert team of Finance Ireland agri specialists," he added.
Finance Ireland is regulated by the Central Bank.
