Cultivate credit union loans available for working capital



WITH input prices expected to rise in the agricultural sector, there will be an increase in working capital requirements at the farm level in 2022. Farmers in County Wexford face a period of rising costs, prices with fertilizer expected to increase by up to and in some cases over 100 percent, while feed costs are up 30 percent.

Credit unions offering Cultivate loans continue to support Irish farmers who seek access to an increased level of working capital to manage this difficult time. Crop loans are a farmer-friendly source of finance provided by 117 credit unions across Ireland.

Orla Doyle of Enniscorthy Credit Union said that as farmers incur increased costs, member farmers are encouraged to “act early” and determine if they may have a cash flow problem in 2022.

“Analyze your fertilizer and feed costs for 2021, then estimate what you expect from your probable expenses for 2022. This will allow you to see fairly quickly if you will need additional working capital in the spring in particular. .

Commenting on the increase in the cost of building materials, Ms. Doyle said, “We understand the importance of continued investment on the farm. Farms must be developed to maintain the viability of the business. Crop loans are ideal for this investment, as well as for farmers’ working capital needs or for purchasing stock or machinery.

Cultivate loans are unsecured loans of up to € 50,000. For details on how to access a Cultivate Loan, see or call Enniscorthy Credit Union on 053 9233835.



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