Dáil Éireann Debate, Thursday - 13 July 2017
963. Deputy Charlie McConalogue asked the Minister for Agriculture, Food and the Marine the number of applications submitted to the SBCI agriculture cashflow support loan scheme per county, in tabular form; the number of successful applications per county; the number of unsuccessful applications per county; and if he will make a statement on the matter. [34769/17]
View answer964. Deputy Charlie McConalogue asked the Minister for Agriculture, Food and the Marine the amount drawn to date under the SBCI agri-loan fund, by county, in tabular form; the number of participants; and if he will make a statement on the matter. [34770/17]
View answer965. Deputy Charlie McConalogue asked the Minister for Agriculture, Food and the Marine the timeframe the SBCI agri-loan fund will remain open for applications; and if he will make a statement on the matter. [34771/17]
View answer966. Deputy Charlie McConalogue asked the Minister for Agriculture, Food and the Marine the average loan size drawn down to date under the SBCI agri-loan fund; the average loan size per county; and if he will make a statement on the matter. [34772/17]
View answer967. Deputy Charlie McConalogue asked the Minister for Agriculture, Food and the Marine the amount that has been drawn down to date under the SBCI agri-loan fund broken down by each lending pillar bank; and if he will make a statement on the matter. [34773/17]
View answerI propose to take Questions Nos. 963 to 967, inclusive, together.
The SBCI have provided my Department with an update on the progress of the drawdown of the Agriculture Cashflow Support Loan Scheme, which follows. To the end of June there have been 3,672 loan drawdowns amounting to a total of €117,308,197, an average loan amount of €31,947. Some 59% of the loans are for terms of 4 years or more. The SBCI have provided a regional rather than a county breakdown and it shows the amount drawn down in each region. They have also provided a sectoral breakdown.
Normal bank lending criteria applies to the Scheme and the terms and conditions of each individual loan are agreed between the bank and the applicant according to the purpose of the loans and the circumstances of the farming enterprise. The banks do not report specific information on refusals but have stated that it is in line with their normal loan refusal rates.
The banks advise that all of the remaining €150m is committed and is in the process of being drawn down. In line with the time limits imposed by the Regulation governing the EU contribution, it is expected that all of these loans will be drawn down by the end of September. The breakdown between the banks of the total €150 million available is:
- Bank of Ireland €65 million
- Allied Irish Bank €60 million
- Ulster Bank €25 million.
The banks will be paid for the interest rate subsidy according to the various loan amounts and terms, although to date no payments have been made to the banks.
I am pleased at the very positive reaction by farmers to the Scheme, which has proved that significant demand exists for low cost flexible finance. I have met with the Chief Executives of the participating banks to discuss this and other access to finance issues relating to the agrifood sector. I have asked the banks to respond positively to the demand that has been demonstrated by reducing interest rates and providing more flexible terms for cash flow loans in the future.
More detailed figures and analysis will be available once the Scheme has been fully drawn down and all reporting is finalised.
SBCI Agriculture Cashflow Support Scheme - end of June 2017
Summary of loan terms, numbers and size
|
Loan Term |
Totals € |
% of Funds |
No. of Loans |
Average Loan Size € |
|
1 year |
30,370,916 |
26% |
1,115 |
27,238 |
|
2 years |
10,326,163 |
9% |
508 |
20,327 |
|
3 years |
7,786,651 |
7% |
375 |
20,764 |
|
4 years |
14,259,538 |
12% |
453 |
31,478 |
|
5 years |
32,337,715 |
27% |
852 |
37,955 |
|
6 years |
22,227,214 |
19% |
369 |
60,236 |
|
TOTALS |
117,308,196 |
100% |
3,672 |
31,947 |
|
Summary |
||||
|
> 4 years |
68,824,467 |
59% |
1,674 |
43,223 |
|
2-3 years |
18,112,814 |
15% |
883 |
20,546 |
|
1 year |
30,370,916 |
26% |
1,115 |
27,238 |
Summary by Sector
|
Sector |
Totals € |
% of funds |
No. of Loans |
Average Loan size € |
|
Dairy |
49,893,145 |
43% |
1,358 |
36,740 |
|
Beef |
48,653,826 |
41% |
1,788 |
27,211 |
|
Sheep |
2,597,000 |
2% |
127 |
20,449 |
|
Pigs |
1,509,000 |
1% |
18 |
83,833 |
|
Tillage |
7,739,465 |
7% |
168 |
46,068 |
|
Horticulture |
878,500 |
1% |
11 |
79,864 |
|
Other |
6,037,261 |
5% |
202 |
29,887 |
|
Total |
117,308,197 |
100% |
3,672 |
31,947 |
|
Summary |
||||
|
Livestock & Dairy |
102,652,971 |
88% |
3,291 |
168,234 |
|
Non-Livestock |
14,655,226 |
12% |
381 |
155,819 |
Summary by Region
|
Region |
Totals € |
% of Funds |
|
IE011 - Border |
16,849,850 |
14% |
|
IE012 - Midland |
13,187,568 |
11% |
|
IE013 - West |
13,208,528 |
11% |
|
IE021 - Dublin |
285,000 |
0% |
|
IE022 - Mid-East |
10,116,286 |
9% |
|
IE023 - Mid-West |
18,374,142 |
16% |
|
IE024 - South-East (IE) |
19,534,871 |
17% |
|
IE025 - South-West (IE) |
25,751,952 |
22% |
|
Total |
117,308,196 |
100% |
|
Summary |
||
|
Border, Midlands and West |
43,245,946 |
37% |
|
Non-BMW |
74,062,251 |
63% |
