Thursday, October 28, 2021
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Rural Finance offers support for Tier 1 Funding

RURAL Finance NI is offering funding and the required Letter of Support for the third tranche of Tier 1 of the Farm Business Improvement Scheme – Capital (FBIS-C) presently open for applications.

Terry McCarron from Rural Finance NI explains: “As a recognised lending institution we can provide the ‘Indication of Support Letter’ to accompany the farm business application.” He went on: “We supported a significant number of applicants for the first and second tranches of Tier 1 in 2016 and 2018 and after a lot of renewed interest again this time around, we have decided to continue our support for the third tranche of applicants – for existing and new customers.”

Terry explains that Rural Finance NI can put in place the funding required to cover the full cost of the items being applied for and on that basis will then complete the ‘Indication of Support Letter’.

Terry reminds applicants that: “The equipment and machinery being applied for on the Tier 1 must cost between £5,000 to £30,000 and be selected from a list of eligible items available on the DAERA website. The scheme will close for applications on Friday, 4th December, 2020, at 4pm.”

Terry adds: “Rural Finance NI are always happy to take new enquiries and offer any assistance that we can whether it be for the Tier 1 or for other projects such as HP on machinery (new or used) or for general farm improvement, for example loans for yard improvements or shed builds.”

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