Ulster Bank has launched the first ever pasture loan, available to both new and existing customers across Northern Ireland, to enable them to improve grassland management practices on their farms and increase profitability.
The loan, which can be up to £50,000 per customer over a five-year period, is designed to assist dairy, beef and sheep farmers who are seeking to improve their grass production and utilisation.
Commenting on the new loan, Cormac McKervey, Senior Agricultural Manager with Ulster Bank, said, “Grass growth rates can make a significant difference to the profitability of a farm, and we’re proud to be introducing this new support for local farming. When supported by investment and maintained to a high standard, grass can be a core profit-producing asset on a farm and can make a real difference in the competitive advantage of milk, beef and lamb production.
“UIster Bank has a wide range of products and services tailored for farmers and agri-businesses across the country.”
The loan, which could be subject to security, will be available to farmers who are looking to invest in any of the following improvements: grazing infrastructure (paddocks, water systems and grassland measurement), drainage, reseeding underperforming swards and soil fertility (N (nitrogen), P (phosporous), K (potassium) and Lime). Further information is available at http://www.ulsterbank.co.uk/ni/business/sectors/agriculture.ashx