Cultivate Farm Loan

About Our Cultivate Farm Loans

6.55% Variable – 6.75% APR

Farmer – Friendly – Finance.

Agri Loans are available for a variety of farming purposes such as:

  • Stocking
  • Farm Machinery
  • Cashflow
  • General Farm Investment

We promise you a friendly professional service, very competitive rates and an easy loan application process with quick turnaround times.

We have a trained and experienced Agri Loans Manager who will talk you through the process, provide advice and guidance and present all our options to you.

Your loan repayments can be tailored to suit your needs and we can offer loan protection insurance, which is one of the many Cavan Credit Union benefits.

Loans up to €50,000 are available with a competitive Interest Rate of 6.55% (6.75% APR)

To assess a Cultivate loan application the following supporting documentation is required:

  • Two years financial accounts (the most recent available)
  • The most recent Form 11
  • 3-6 months bank statements
  • 2 payslips, if in receipt of same
  • Evidence of any non-business related income
  • Tax Clearance Certificate / letter from your accountant confirming tax affairs are up to date
  • Statement of direct payments for the previous year
  • Final milk statement for the previous year
  • Confirmation of TAMs II approval (if applicable)
  • For amounts greater than €25,000 a business plan must be provided, including projections for 3 years
  • Any other supporting documentation which may assist in your loan application, including evidence of loan purpose

To apply for a Cultivate Loan, you must be a member of Cavan Credit Union.  If you are not already a member, go to the membership page on our website for eligibility criteria or call into our credit union office on main street Cavan.

Alternatively, if you are already a member  and would like to find out more about our Cultivate Loan, the documents required, the application process or to get started with an application simply make an appointment with the Agri Loans Officer in Cavan CU on 049 4331715.

Security Policies

Security may be required. Types of security which may be required include the following:

  • A pledge of your shares
  • Guarantor

The type and level of security required will be reasonable and will depend on the level of credit being sought, the term of the credit agreement and the overall level of risk which applies to the credit facility. The level of security sought will have regard to the nature, type and value of the security offered.

We will provide you (and any potential guarantor) with a written explanation of why the security is required and the consequences for you (and the guarantor) of providing such security.

 

Credit History Implications of a Refusal

A refusal of a loan application by the credit union will not adversely affect your credit rating.

WHAT MAKES US DIFFERENT

  • Trained and experienced Agri Loans Team
  • On Farm appointments available
  • Borrow up to €50,000 unsecured
  • Loan term up to 7 years
  • Suitable for all farm types
  • No administration, arrangement or set up fees
  • Loan insurance at no added cost to eligible members
  • No penalties for early repayment
  • Flexible repayment options; including quarterly and yearly to help plan for seasonal expenses