With soaring input prices in agriculture, especially fertilizer, Cultivate, which provides agricultural loans to the credit union, helps farmers meet this working capital challenge.
ultivate is working with local independent agro-dealers to provide additional credit to farmers following this dramatic increase in fertilizer prices.
While everyone is jumpingAs this is a short-term problem, credit unions, including Enniscorthy Credit Union, are stepping in to support local farmers looking to access a credit facility by offering a working capital loan. to manage their cash flow this spring.
Orla Doyle of Enniscorthy Credit Union said the rising cost of fertilizer has been the main talking point in agriculture in recent months.
“We know that many farmers are struggling to react to these price increases,” she said. “The Cultivate loan from our credit union can be used as part of the solution for farmers who are struggling to finance the purchase of fertilizer this spring.”
Joe Healy, former president of IFA and now president of Cultivate, said the loan facility is good news for the agricultural sector.
“This is an initiative that will benefit both farmers and traders,” he said.
Cultivate loans are unsecured loans of up to €50,000, Ms Doyle said.
For more details, farmers can visit www.Cultivate-CU.ie or call 053 9233835.