• Access to finance remains a significant challenge for Irish farms due to reduced competition among lenders and higher interest rates compared to the Eurozone average.
• The exit of foreign-owned institutions has left AIB, Bank of Ireland, and Permanent TSB as the dominant players, making borrowing more difficult.
• There has been an increase in alternative lenders such as private lenders, credit unions, specialized agri-finance providers, and government-backed loan schemes, although they are typically more expensive.
• The loan application process has evolved, with larger loans requiring detailed business plans, financial documentation, and security interests.
• New risks being assessed include regulation and compliance factors, climate action plans, and sustainability credentials.

Reach out to FDC advisors for personalised advice and assistance in navigating the evolving landscape of farm lending.

To read the full article and learn more about the challenges and opportunities in farm lending in Ireland, visit the Irish Examiner website.